The balance of first-lien home loans outstanding is nearing the all-time high established at the start of the crisis. The trend is down, however, for home-equity products.
At the conclusion of July, there were 50.1 million U.S. first mortgages that were outstanding with a collective unpaid principal balance of $8.87 trillion.
The nation’s latest book of first mortgages stands not far from the all-time record established in 2008, when there were $9.04 trillion in first-lien loans in place.
Source: Mortgage Daily