It’s no secret today’s economy is casting a shadow over many people’s lives, whether at the grocery store, gas pump or even keeping the lights on at home. But, so far, Americans, especially homeowners, appear to be holidng steady when it comes to their debt. Total mortgage balances have risen in 11 straight quarters dating back to the second quarter of 2023, according to the Federal Reserve Bank of New York , but that’s to be expected with home prices increasing. The growth has been consistent and relatively modest, averaging 0.92% per quarter for a cumulative increase of 9.7% during that span. Mortgage balances sit at just over $13 trillion, an all-time record, but that isn’t necessarily concerning because delinquencies remain low and home equity is near record highs. Growth like this is sustainable and doesn’t indicate any sort of consumer distress in the housing market. Other categories, such as credit cards, are more alarming.…