Record levels of equity are currently held by U.S. homeowners, with recent data showing a reluctance to tap into it due to higher interest rates. However, there has been a shift in this trend.
In the third quarter of this year, mortgage holders accessed $48 billion in home equity, marking the highest volume in two years since
Despite these changes, homeowners remain cautious about utilizing their equity.
Collectively, they hold over $17 trillion in total equity, with approximately $11 trillion available for borrowing as long as 20% equity remains in their homes – a requirement set by most lenders. On average,
An aerial…
2024-11-04 14:01:54
Article from www.cnbc.com
