Banks are mostly off the hook this time; risks were shifted to taxpayers and investors. Mortgage balances rose by $137 billion (+1.1%) in Q3 from Q2, and by $482 billion (+3.8%) year-over-year, to $13.1 trillion, according to the Household Debt and Credit Report from the New York Fed, based on Equifax credit report data.Growth in mortgage balances is a net of several factors, a significant one being the growth of the housing stock when buyers finance the purchase of newly constructed homes. Mortgage balance ...

Here's how to get a mortgage and get the best possible interest rate when you do. What is the process for getting a mortgage? Getting a mortgage can seem hard, especially if you’re a first-time home buyer. The key to making the process go smoothly is preparation. Here’s the step-by-step process you can expect when you get a mortgage: Assess your finances. The state of your finances — how much debt you have, your income and other factors — will help you figure out how much house you can afford. Improve ...