Mortgage Debt Rises, Federal Reserve Shows

According to the Household Debt and Credit Report released by the Federal Reserve Bank of New York, the outstanding amount of housing-related debt, both home mortgages and home equity lines of credit (HELOCs), totaled $8.8 trillion in the second quarter of 2016, 2.6 percent ($225 billion) greater than the level from one year ago.
However, the outstanding amount of home equity lines of credit declined by 4.2 percent, $21 billion, over the year to $478 billion. This is the 26th cons