Thursday, June 07, 2007

Fed: Mortgage Debt Increased $127.6 Billion in Q1

by Calculated Risk on 6/07/2007 12:32:00 PM

The Federal Reserve released the Flow of Funds report for Q1 2007 today. The report shows mortgage debt increased $127.6 Billion to $9,832.3 Billion in Q1 2007, the slowest increase since Q1 2002.

The calculation of Mortgage Equity Withdrawal (MEW) will probably be available in the next few days, however it appears MEW actually increased slightly in Q1. This is because a significant portion of the lower increase in mortgage debt was due to fewer new home sales