America’s book of single-family loans expanded last year, though the balance of home-secured credit lines outstanding declined. Serious mortgage delinquency dropped.
Among all U.S. households, aggregate household debt balances amounted to $13.15 trillion as of Dec. 31, 2017, expanding from $12.58 trillion at the end of 2016.
Mortgage debt outstanding accounted for $8.88 trillion of the most-recent total. The nation’s mortgages outstanding grew from $8.48 trillion as of Dec. 31, 2016.
Those details were reported by the Federal Reserve Bank of New York
in its Quarterly Report on Household Debt and Credit 2017:Q4. The statistics were derived from Equifax Data.
Home-equity lines of credit outstanding concluded last year at $444 billion,
down from $473 billion one year previous.
During the final three months in 2017, there was $452 billion in newly originated mortgage debt, down from $479 billion three months earlier and $617 billion one year earlier.
Mortgage delinquency of at least 90 days finished last year at 1.3 percent, retreating from 1.4 percent at the end of the third quarter and 1.6 percent at the end of 2016.
Around 70,000 borrowers had a new foreclosure noted on their credit reports during the fourth-quarter 2017.
