Traveling for a conference this week and a little short on time so we will just be focusing on some interesting home equity charts today from Black Knight’s latest Mortgage Monitor Report.
Chart of the Day
US homeowners are sitting on a goldmine when it comes to tappable home equity – defined as how much much a homeowner can borrow before their mortgage loan exceeds 80% of their home’s value..
The rate of increase has been picking up recently as prices surge and rates stay low.
We are sitting at a 15-year high for cash out refinance volume. Expect more to come. This will undoubtedly be an economic tailwind in years to come if rates don’t move upward too much.
Source: Black Knight
WTF
Basis Points – A candid look at the economy, real estate, and other things sometimes related.
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