{"id":13236,"date":"2018-04-04T13:11:49","date_gmt":"2018-04-04T13:11:49","guid":{"rendered":"http:\/\/www.anthonydidonato.net\/wordpress\/?p=13236"},"modified":"2018-04-04T13:11:50","modified_gmt":"2018-04-04T13:11:50","slug":"homeowner-equity-is-hitting-a-record-high","status":"publish","type":"post","link":"https:\/\/www.anthonydidonato.net\/wordpress\/homeowner-equity-is-hitting-a-record-high\/","title":{"rendered":"Homeowner Equity Is Hitting a Record High"},"content":{"rendered":"

Homeowner Equity Is Hitting a Record High<\/h1>\n
\"Homeowner<\/a>

Homeowner Equity Is Hitting a Record High<\/p><\/div>\n

Homeowners are getting richer, thanks to rising home values. The amount of equity that homeowners can tap into is now at the highest level on record, according to Black Knight Financial Services, a mortgage and finance industry solution provider.<\/p>\n

The amount a borrower can take out of a home\u2014while still leaving 20 percent in it\u2014increased by a collective $735 billion during 2017. That is the largest annual increase by dollar value on record, according to Black Knight. The collective amount of tappable equity now stands at $5.4 trillion, 10 percent more than the prerecession peak in 2005.<\/p>\n

\u201cThere\u2019s no question that a majority of homeowners have amassed considerable equity gains since the downturn,\u201d says Lawrence Yun, chief economist of the National Association of REALTORS\u00ae. \u201cHome prices have grown a cumulative 48 percent since 2011 and are up 5.9 percent through the first two months of this year.\u201d<\/p>\n

Homeowners are being more conservative, and lenders are much stricter when it comes to tapping into home equity. Homeowners took out $262 billion in cash-out refinances or home equity lines of credit last year, which is less than 1.25 percent of all available equity and is at a four-year low.<\/p>\n

\u201cWhile rising rates tend to dampen utilization of equity in general, the market is poised for a strong shift toward HELOCs, as they allow borrowers to take advantage of growing equity while holding on to historically low first-lien interest rates,\u201d\u00a0says Ben Graboske, executive vice president of Black Knight Data & Analytics. \u201cOver half of all tappable equity\u2014approximately $2.8 trillion\u2014is held by borrowers with credit scores of 760 or higher and first-lien interest rates below today\u2019s prevailing rate, which creates a large pocket of low-risk HELOC candidates.\u201d<\/p>\n

The amount of homeowner equity varies depending on location. Thirty-nine percent of the nation\u2019s total tappable equity is in California alone. Seattle and Las Vegas have also seen large increases in home equity, Black Knight notes.<\/p>\n

Source: \u201cHomeowners Are Sitting on $5.4 Trillion in Ready Cash, the Most Ever<\/a>,\u201d CNBC (April 2, 2018)<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Homeowner Equity Is Hitting a Record High Homeowners are getting richer, thanks to rising home values. The amount of equity that homeowners can tap into is now at the highest level on record, according to Black Knight Financial Services, a mortgage and finance industry solution provider. The amount a borrower can take out of a … <\/p>\n

Continue reading<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,8],"tags":[5,32,4,9],"class_list":["post-13236","post","type-post","status-publish","format-standard","hentry","category-news","category-real-estate-tips","tag-anthony-didonato","tag-news","tag-real-estate","tag-tips","item-wrap"],"yoast_head":"\nHomeowner Equity Is Hitting a Record High - Real Estate Agent and Sales in PA - Anthony DiDonato Broomall, Media, Delaware County and surrounding areas in Pennsylvania<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.anthonydidonato.net\/wordpress\/homeowner-equity-is-hitting-a-record-high\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/homeowner-equity-is-hitting-a-record-high\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/homeowner-equity-is-hitting-a-record-high\\\/\"},\"author\":{\"name\":\"admin\",\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"headline\":\"Homeowner Equity Is Hitting a Record High\",\"datePublished\":\"2018-04-04T13:11:49+00:00\",\"dateModified\":\"2018-04-04T13:11:50+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/homeowner-equity-is-hitting-a-record-high\\\/\"},\"wordCount\":356,\"publisher\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"image\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/homeowner-equity-is-hitting-a-record-high\\\/#primaryimage\"},\"thumbnailUrl\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/wp-content\\\/uploads\\\/2018\\\/04\\\/04042018.jpg\",\"keywords\":[\"Anthony DiDonato\",\"News\",\"Real Estate\",\"tips\"],\"articleSection\":[\"News\",\"Real Estate Tips\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/homeowner-equity-is-hitting-a-record-high\\\/\",\"url\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/homeowner-equity-is-hitting-a-record-high\\\/\",\"name\":\"Homeowner Equity Is Hitting a Record High - 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