Homeowner equity grew $2.9 trillion
nationwide from the second quarter of 2020 to the same quarter this year. CoreLogic’s
Homeowner Equity Report shows U.S. homeowners who have mortgages (which account
for roughly 63 percent of all residential properties) saw their equity increase
by 29.3 percent over that period, an average borrower gain of $51,500.  

With over 1.5 million homeowners in
forbearance and 5 million consumers unemployed, current equity figures have
added import. A recent CoreLogic survey found 59 percent of respondents feel
extremely confident
in their ability to keep current on their mortgage payments
in the coming year. 

CoreLogic says, “Thanks to ongoing
government provisions, increased vaccine availability – enabling many to return
to work and a steady income – and record homeowner equity gains, most
borrowers have been able to remain current on their mortgage payments.

…(read more)

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