Home Equity Trends

Despite the housing market slowdown, homeowners have continued to build equity. A large proportion of home owners in the US are “equity rich”. That means that their mortgage balances were < 50% of their estimated market value. 

According to ATTOM (a leading curator of real estate data), 48.5% of mortgaged residential properties in the US were considered equity-rich in 2022q3.  That’s an increase from 48.1% in 2022q2 and from 39.5% in 2021q3. That is the 10th straight quarterly rise. 

Tapping into the equity in your homes may make financial sense. Compared to other debt, such as credit card debt, mortgage debt is relatively lower. 

With inflation at a 40-year high, and talk of recession in the coming years, it makes financial sense to explore ways to cut expenses and pay down high-interest debts.  

If you would like to talk about your particular situation, I would love to help.

Pauline@indmortgage.com | (508) 525-5415 | www.indmortgage.com

* Specific loan program availability and requirements may vary. Please get in touch with the mortgage advisor for more information.