Here Come the HELOCs: Mortgages, Housing-Debt-to-Income-Ratio, Serious Delinquencies, and Foreclosures in Q4 2025

One of the most fundamental changes resulting from the Financial Crisis was the transfer of mortgage risk from banks to taxpayers. Mortgage balances rose by $98 billion (+0.7%) in Q4 from Q3, to $13.2 trillion, according to the Household Debt and Credit Report from the New York Fed, which obtained this data via its partnership with Equifax.Year-over-year, mortgage balances rose by $564 billion (+4.5%). Since the beginning of 2020, mortgage balances have surged by 38%, while home prices have surged by 53% ov ...