Americans Digging Out of Mortgage Debt

Published on Thu, 06/14/2012 - 15:19
By FNNO Staff in analysis, business, finance, fnno, market, news, stock, trading
business, finance, trading, stock, market, analysis, news, fnno

Looks like Americans are finally digging themselves out of mortgage
debt. Home equity rose to $6.7 trillion this quarter- thats the
highest level since 2008 - as homeowners are taking advantage of
record-low interest rates to refinance.

This is a strong indication that Americans’ home-loan debt-burden is
beginning to ease. This is welcome news after the record borrowing
that created, and ultimately popped the housing bubble- leaving
almost a quarter of American homeowners with mortgages owing more than
their properties were worth.

By FNNO Staff
fnnonline@gmail.com

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