High mortgage rates sideline homeowners from tapping home equity: ICE
Housing Wire
DECEMBER 3, 2023
Rising home prices have pushed the third quarter’s tappable home equity amount near its 2022 peak, but interest rates are making homeowners reluctant to extract that wealth. Rising equity levels are also contributing to low default and foreclosure activity. In 2024, roughly 75% of originations expected to come from purchase loans.
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