Total new mortgages in the 2019 first quarter fell to $344 billion, down $60 billion from the previous quarter and the lowest level since the middle of 2014, according to data from the Federal Reserve Bank of New York. Total home equity lines of credit also decreased, dropping $6 billion to $406 billion. The share of Americans with a mortgage has been declining since 2006 when it hit a high of 34%. As of the 2018 fourth quarter, only 26% carried a mortgage.