Average mortgage balances have risen despite falling loan amounts on new originations. Home loan performance, meanwhile, is the best it’s been since the recession.
As of the second quarter of this year, the average U.S. mortgage borrower owed $198,045 on their single-family loan.
The nation’s consumers have increased their leverage in home financing compared to the same quarter last year, when the average balance was $192,749.
Source: Mortgage Daily