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U.S. home mortgage surge past pre-recession record

Home mortgage debt surged to a new high in the second quarter, leaving the pre-recession 2008 peak in the dust. The total mortgage balance grew during the second quarter by $ 162 billion to $ 9.406 trillion, according to the Federal Reserve Bank of New York, the Wall Street Journal reported on Tuesday. That’s more than the 2008 record of $ 9.294 trillion. Mortgage debt has been climbing since 2013, when it fell by 15 percent in the […]


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