Equity Rich Homes On The Rise
Of the mortgaged properties in the U.S., 44.9% are considered equity rich.
According to National Mortgage Professional, “Homeowners continue to benefit from rising home prices,” Rick Sharga, executive vice president of market intelligence for ATTOM, said. “Record levels of home equity provide financial security for millions of families, and minimize the chance of another housing market crash like the one we saw in 2008. But these higher home prices and rising interest rates make it extremely challenging for first time buyers to enter the market.”