Underwater Mortgages Rise to 3-Year High Amid Cooling US Housing Market

Townhouse for sale in Elkridge, Md., on Sept. 27, 2024. Madalina Vasiliu/The Epoch TimesA new report from the Intercontinental Exchange shows that nearly 875,000 homeowners now owe more on their mortgages than their properties are worth—the highest level in three years—as softening home prices and elevated borrowing costs squeeze household finances.The surge in negative equity represents 1.6 percent of all mortgage holders and highlights a worsening affordability landscape that officials in the Trump administration say is weighing on the broader economy.