Category: Industry and markets

Snapshot of older consumers and mortgage debt

Older homeowners are carrying more mortgage debt than ever before. Today, compared to a decade ago, fewer older Americans own their home outright. In this snapshot, we analyze data from the Census Bureau, the Federal Reserve, and the CFPB’s own consumer complaints to describe the growing number of older consumers carrying mortgage debt, and the risks that this trend presents to their financial security.

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Snapshot of older consumers and mortgage debt