Household debt continues higher, mortgages reach $8.74 trillion

“Mortgage debt is at a high but the ratio to home values is not as home price appreciation is outpacing new mortgage debt. Owner’s equity in real estate of 58.4% in Q2 was the highest since Q1 2006, when home price weakness began,” LendingTree’s Chief Economist Tendayi Kapfidze told Mortgage Professional America.