Negative Equity Falls to Pre-Recession Levels Thanks to Home Price Gains

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Posted To: MND NewsWire

Homeowner equity jumped again in the fourth quarter of last year. CoreLogic’s report said it found that, among homeowners with mortgages, about 63 percent of the total, an additional 5.4 percent accrued to their home equity , translating into an increase of about $7,300 in household wealth. The largest increase was in Idaho at $18,700. The nation’s aggregate increase in equity from the 4 th quarter of 2018 through the 4 th quarter of 2019 was $489.4 billion. This does not include growth in equity among those homeowners without a mortgage. CoreLogic’s Chief Economist Frank Nothaft said, “The CoreLogic Home Price Index recorded a quickening of home price gains during the fourth quarter of 2019, helping to boost home equity wealth. The average family with a mortgage had a $7,300 gain in home equity…(read more)

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