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Improved Household Debt Levels Could Insulate Against a Downturn

Thursday, December 20, 2018

You can cut the numbers in several ways, but no matter the way it is reported, American households are in relatively good shape when it comes to mortgage debt. While this isn't a number many homeowners think about after they get up from the closing table, CoreLogic points out that it could be very important in the inevitable next recession. Ralph McLaughlin, writing in CoreLogic's Insights blog, says that mortgage debt fell to 64.6 percent of total household debt in the third quarter of this year, the lowest share since the first quarter of 1988.   Looked at another way, mortgage debt as a share of disposable household income it at 65.9 percent, the lowest since the second quarter of 2001.




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We appreciated how much Sara was willing to meet with us either on the phone or in person. She was a knowledgeable and caring person to help us without first home mortgage loan. Even though I had a million questions she actively listened and explained her answer. She is a magnificent person and I would love to share with family and friends our great experience with her. I definitely gave her a hug before we left the lawyers office signing for our house and thanked her for keeping this mortgage process smooth.
Josh and Laura