Mortgage rates are rising in states across the country, but the level of housing debt hasn't been the same everywhere.Altogether, Americans owe $12 trillion on their mortgages, but a new report from WalletHub found a few states were leading the pack when it came to overall mortgage debt.The largest increases in debt were noted in the following 10 states: Maryland, Nevada, Hawaii, Texas, Arizona, California, Massachusetts, New York, Maine and Alaska.
Colin Robertson, owner of The Truth About Mortgage and a former account executive, said property values nationwide have been skyrocketing due to a low supply of inventory.'This means today's homebuyers face a one-two punch of a larger loan amount at a significantly higher interest rate,' Robertson told Newsweek.
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