Mortgage Industry News
« Return to Mortgage Industry News
Equity Acceleration Slows, Are Some Owners Cashing Out?
Thursday, July 30, 2015
The rich get richer?
When it comes to equity that appears to be the case according to
information released by RealtyTrac on Thursday. The company's U.S. Home Equity & Underwater
shows an increase in the number of "equity-rich" properties, those with at
least 50 percent equity rose by over a million between the second quarters of
2014 and 2015.
At the end of the most recent period there were an estimated
10.9 million properties considered equity rich, approximately 19.6 percent of
all properties with a mortgages, compared to 9.9 million or 18.9 percent at the
end of Q2 2014. The latest number is
lower than both of the previous quarters; there were 11.1 million such
properties 19.8 percent) at the end of the first quarter and 11.3 million or
20.3 percent in Q4 2014.
Read Full Article