Wednesday, November 30, 2022 | The Latest Buzz for the Appraisal Industry

Mortgage Balances Increased by $282 Billion in Q3 2022

The Federal Reserve Bank of New York‘s Center for Microeconomic Data has issued its Quarterly Report on Household Debt and Credit, showing an increase in total household debt in the third quarter of 2022, increasing by $351 billion (2.2%) to $16.51 trillion.

Balances now stand $2.36 trillion higher than at the end of 2019, before the pandemic recession.

Mortgage balances rose by $282 billion in the third quarter and stood at $11.67 trillion