U.S. Mortgage Debt Hits Record, Eclipsing 2008 Peak - USA DAILY NEWS

U.S. Mortgage Debt Hits Record, Eclipsing 2008 Peak

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WASHINGTON—U.S. mortgage debt reached a record in the second quarter, exceeding its 2008 peak as the financial crisis unfolded.

Mortgage balances rose by $162 billion in the second quarter to $9.406 trillion, surpassing the high of $9.294 trillion in the third quarter of 2008, the Federal Reserve Bank of New York said Tuesday.

Mortgages…

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