Looks like Americans are finally digging themselves out of mortgagedebt. Home equity rose to $6.7 trillion this quarter- thats thehighest level since 2008 – as homeowners are taking advantage ofrecord-low interest rates to refinance.This is a strong indication that Americans’ home-loan debt-burden isbeginning to ease. This is welcome news after the record borrowingthat created, and ultimately popped the housing bubble- leavingalmost a quarter of American homeowners with mortgages owing more thantheir properties were worth.
