Although the volume of quarterly home lending has slowed, the balance of outstanding mortgages continued to expand. Loan performance, meanwhile, showed ongoing improvement.
As of March 31, there were $8.94 trillion in U.S. residential loans that were outstanding, according to data reported Thursday by the Federal Reserve Bank of New York.
America’s book of mortgage business grew from the end of last year, when the total was $8.88 trillion. The balance also expanded from $8.63 trillion as of the same date last year.
Source: Mortgage Daily