Families put big spending on hold to pay off their mortgages as debt falls by 8bn in three months

Families put big spending on hold to pay off their mortgages as debt falls by 8bn in three months Homeowners paid off more than they borrowed in the third quarter of 2012It was the 18th quarter in a row that mortgage debt has fallen . It was the 18th quarter in a row that mortgage debt has fallen, and families have now ploughed 137.5billion of equity into their homes since early 2008. The injection of equity – which increases the proportion that households own against the proportion that is mortgaged – is in stark contrast to the borrowing binge of the decade before the financial crisis struck