American homeowners falling into negative equity rose in the first quarter of the year as soaring living costs and a volatile property market strain households.The number of mortgages considered 'seriously underwater' rose from 2.6 percent to 2.7 percent of all residential mortgages, a new report shows. In , the percentage of 'seriously underwater' mortgage holders rose to 8.3 percent in the first three months of the year - the highest of any US state. To hit the threshold, owners must owe at least 25 percent more than the estimated value of their home.
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