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US mortgage debt is above its level during the 2008 crisis



Business and Finance

US mortgage debt is above its level during the 2008 crisis

Reuters

US mortgage debt is above its level during the 2008 crisis

The volume of US mortgage debt in the second quarter of this year reached a record high, rising above the peak reached during the 2008 financial crisis.

Mortgage balances in the second quarter rose $ 162 billion to $ 9.406 billion, exceeding the highest level of $ 9.294 billion in the third quarter of 2008, according to the Federal Reserve Bank of New York.

The data shows that the quality of mortgage debt monitoring in 2019 is higher than in 2008, as US banks have high lending rates.

As a result, mortgage losses are lower than in 2008.

Source: Agencies


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