A new WalletHub report indicates that total national mortgage debt is now more than $12.6 trillion, with the average American household currently owing $105,000 on mortgages. The report blames rising interest rates and housing costs for making home ownership more challenging.
Vermont, the sixth-smallest state in the nation, experienced the largest increase in mortgage debt at the end of 2024, with the average balance rising by 2.63 percent to $208,730.
