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A record 40.3% of U.S. homes are now owned outright, according to the latest Census Bureau data.
Why it matters: The share of mortgage-free homes has risen in recent years, as homeowners stay put and more people buy homes with cash.
State of play: West Virginia saw the highest share of homes owned "free and clear," with 55%. Washington, D.C., had the lowest, with 26%.
Between the lines: Many outright homeowners are baby boomers who refinanced when mortgage rates were lower.
The latest: Some 26% of buyers paid cash for their home in the past year — an all-time high, per the National Association of Realtors.
The bottom line: Mortgage or not, it's getting pricier to own and maintain a home.