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.