Skip to main content

Mortgage Balances and Debt up in Q4 2017

Mar 05, 2018
Freddie Mac reported third quarter net income of $1.7 billion, up from $1.5 billion for the second quarter of 2019

Mortgage balances increased by $139 billion, or 1.6 percent, during the fourth quarter of 2017, while mortgage debt rose by $402 billion year-over-year, according to the latest Quarterly Report on Household Debt and Credit from the Federal Reserve Bank of New York. The national housing debt level totaled $9.33 trillion by the end of 2017.
 
But while mortgage debt rose, mortgage balances were 4.4 percent below the peak levels set in 2008, while some states that were severely impacted in the recession—including Arizona, California, Florida and Nevada—have balances far below their respective highs. Furthermore, the median credit score of borrowers for new mortgages dropped in the fourth quarter from 760 to 755.
 
Mortgage debt also recorded the second lowest household debt in the household quarter, with 1.3 percent of mortgages in serious delinquency. Mortgage balances account for 71 percent of total household debt, the largest component. There were 52.7 million mortgage accounts in the fourth quarter, up from 52 million on year earlier.

 
 
About the author
Published
Mar 05, 2018
Mass Firings At CFPB Imminent, Filing Says

Unions representing CFPB employees said 95% of the Bureau's workforce could be cut by the weekend

Feb 14, 2025
Realty Fees On The Rebound

Real estate commissions are trending back up, post-NAR settlement.

Feb 13, 2025
Wire Fraud Losses Are Mounting

First-time homebuyers are especially at risk for wire fraud, report finds.

Feb 13, 2025
Rocket's All-American Return To The Super Bowl

The company spends millions to remind Americans of "the meaning of home."

Feb 10, 2025
Homebuilders Cheer Delay Of Trump Trade War

Canada and Mexico stave off tariffs on billions of dollars of materials crucial to the U.S. homebuilding industry

Feb 04, 2025
OCMBC President Arrested For DUI, Murder

Serene Vernon (Rosenberg) had three prior convictions, per a police report

Feb 02, 2025