Mortgage Balances and Debt up in Q4 2017 – NMP 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
The Fed Held. The Mortgage Market Got A Warning.

Three policymakers favored an immediate hike, while Warsh welcomed higher bond yields and offered no clear path toward mortgage-rate relief

Jul 30, 2026
New Study Finds UWM's 'All-In' Triggered Industrywide Pricing Spillovers

Research shows wholesale competitors responded to the 2021 Rocket ban by lowering mortgage rates,

Jul 15, 2026
First Major Housing Reform In Decades Becomes Law Without Trump's Signature

Bipartisan ROAD to Housing Act advances supply, construction, and mortgage reforms despite White House protest

Jul 10, 2026
Mortgage Star Conference Honors Women Shaping The Future Of Mortgage Leadership

MWLC honors leaders driving innovation, mentorship, and growth across the mortgage industry

Jul 09, 2026
June Jobs Report Improves Mortgage Rate Outlook

Slower hiring strengthens bonds and eases concerns over additional Fed tightening

Jul 02, 2026
NEXA Founder Mike Kortas Launches evoLend To Help Originators Retain Borrowers

New Fannie Mae-, Freddie Mac- and Ginnie Mae-approved mortgage servicer aims to keep originators connected to borrowers through servicing data, payoff visibility and retention tools

Jul 02, 2026