Slower Appreciation Taking a Toll on Equity in Some Markets

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Posted To: MND NewsWire

Declining property values, while modest and localized, may be taking a toll on homeowner safety margins. ATTOM Data Solutions has released its first quarter 2019 Home Equity and Underwater Mortgage Report and notes that 5.22 million U.S. properties were underwater at the end of the reporting period. This represents 9.1 percent of all mortgaged residential properties in the U.S., up from 8.8 percent at the end of the fourth quarter of 2018. ATTOM defines “underwater” as where the combined balance of loans secured by the property exceeds the property’s estimated market value by 25 percent or more, that is has a loan-to-value (LTV) ratio of 125 percent or more.. The number of such properties increased by more than 17,000 compared to the first quarter of 2018 although the share of those homes is…(read more)

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