US mortgage debt has exceeded its level during the 2008 crisis

US mortgage debt volume in the second quarter of this year hit a record high, surpassing the peak of the 2008 financial crisis.

Mortgage balances in the second quarter rose $ 162 billion to $ 9,406 billion, exceeding the highest level of $ 9.294 billion recorded in the third quarter of 2008, according to the New York Federal Reserve Bank.

The data shows that the quality of mortgage debt monitoring in 2019 is higher than in 2008, with US banks having high credit applications.

As a result, defaults on mortgages are lower than in 2008.

Source: agencies

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