Homeowners gain over $620 billion in equity in second quarter

Housing Wire

homeowners with mortgages witnessed a 6.6% year-over-year increase in their equity in the second quarter of 2020 – representing a cumulative gain of $620 billion for the nation and an average $9,800 hike in equity per homeowner, according to a new report by CoreLogic.

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Homeowner Equity Increases an Astonishing $1 Trillion

Keeping Current Matters

In a year that was financially devastating for many Americans, some good news for most homeowners is the dramatic gain in home equity over the last twelve months. Last week, CoreLogic released its 2020 3rd Quarter Homeowner Equity Insights report, which reveals four major findings: S.

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The Importance of Home Equity in Building Wealth

Keeping Current Matters

This ‘wealth’ is built, in large part, through the creation of equity…Building equity through your monthly principal payments and appreciation is a critical part of homeownership that can help you create financial stability.”.

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Home Values, Owners’ Equity Rise in 2Q20

Eye on Housing

In the second quarter, the aggregate value of all household mortgages rose by $80 billion to $10.6 Read More › The post Home Values, Owners’ Equity Rise in 2Q20 first appeared on Eye On Housing.

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Home Equity Give Sellers Options in Today’s Market

Keeping Current Matters

Homeownership is one of the best ways to invest in your financial future, especially as your home equity grows. Home equity is a form of forced savings that can work to your advantage as the value of your home appreciates.

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Home Equity Gives Sellers Options in Today’s Market

Keeping Current Matters

Homeownership is one of the best ways to invest in your financial future, especially as your home equity grows. Home equity is a form of forced savings that can work to your advantage as the value of your home appreciates. Across the country, home equity was increasing before the health crisis swept our nation, and it continues to grow throughout the year, giving sellers powerful options in this market.

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Factors That Affect Home Equity

American Lifestyle

The post Factors That Affect Home Equity appeared first on American Lifestyle Magazine. Buying & Selling Equity Finance Financial Advice Home Advice Home Buying Home Loan Mortgage Real Estate Real Estate Agent Refinancing

US home equity levels rose in Q3

Inman

Equity-rich properties made up about 28.3 percent of mortgaged homes in the U.S. during the third quarter, up from 26.7 percent the previous year.

How DepositLink delivers on equity and excellence

Inman

Mortgage Sponsored ach darrell west depositlink digital transaction DTM earnest money escrow How DepositLink delivers on equity and excellence mortgage real estate title wire transferToday, DepositLink CFO and co-founder Darrell West is building a real estate tech company.

CoreLogic: Home Equity Rises Despite the Pandemic

RIS Media

CoreLogic® recently released the Home Equity Report for the second quarter of 2020. homeowners with mortgages (which account for roughly 63 percent of all properties) have seen their equity increase by 6.6 percent of all mortgaged properties.

Canadian Home Equity Borrowing Grinds To A Sudden Halt

Better Dwelling

Canadians are suddenly not so hot on borrowing their home equity these days. Office of the Superintendent of Financial Institutions (OSFI) filings show the balance of loans secured by home equity, like HELOCs, made a very small increase in August.

Should you refinance to a 15-year mortgage in 2021?

Housing Wire

For many middle-aged and older homeowners with several years of equity on their homes, 2021 could be a prime time to refinance from a 30-year fixed-rate mortgage into a 15-year mortgage. Why head into retirement with a mortgage?

ATTOM Report: Home Equity Levels Rising in Q3 Despite Pandemic

RIS Media

Home Equity & Underwater Report, which shows that 16.7 were considered equity-rich, meaning that the combined estimated amount of loans secured by those properties was 50 percent or less of their estimated market value. In the third quarter of 2020, equity-rich properties made up 28.3 million mortgaged homes in the U.S. properties with a mortgage, down from 6.2 ATTOM Data Solutions recently released its third-quarter 2020 U.S.

Bankrate Interest Rate Forecast: Mortgage Rate Trend to Reverse, Home Equity Rates May Dip

RIS Media

Bankrate.com recently released its 2021 Interest Rate Forecast , providing specific predictions for mortgage rates, home equity rates, and more. ” Bankrate.com predicts that home equity rates may dip, with the average home equity loan clocking in at 5.05

Ahead of its IPO, Caliber gives its private equity owner $300M in cash

Housing Wire

Lone Star Funds ‘ residential mortgage lender Caliber Home Loans hopes to raise up to $538 million at its highly anticipated public debut next week, according to documents filed with the Securities and Exchanges Commission on Wednesday.

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How record-low mortgage rates changed everything in 2020

Housing Wire

While the United States may not have been prepared to combat a deadly virus, a quick and robust response from the Federal Reserve , along with changing consumer preferences, created a perfect storm that resulted in a record year for the housing and mortgage industries.

MBA Study Finds Home Equity Lending Growth Hindered by Alternative Products and COVID-19

RIS Media

Home equity loan debt outstanding and borrower utilization rates declined in 2019, and mortgage lenders anticipate originations to fall again this year before increasing modestly in 2021. – Home equity loan debt outstanding dropped 7.6

Ginnie Mae will ban LIBOR-based mortgages

Housing Wire

Ginnie Mae , the government-owned corporation that securitizes loans backed by the Veterans Administration and the Federal Housing Administration , said it won’t accept adjustable-rate mortgages benchmarked to the London Interbank Offer Rate, or LIBOR, starting in January.

How Fast Does Equity Build During Homeownership?

RIS Media

Your home’s equity grows with each mortgage payment you make and with time. . According to Bank of America, you can calculate your equity based on current appraised value less any mortgages tied to your home. Lenders consider equity differently.

Low, low mortgage rates make 19.4 million eligible for refi

Housing Wire

As mortgage rates sta y below 3% for the 17th consecutive week, a Black Knight report released Friday found that the number of “high quality” refinance candidates continues to climb. Looking at current mortgage rates, Black Knight estimates those 19.4

CoreLogic: Homeowners Gained Over $1 Trillion in Equity in Q3 2020

RIS Media

CoreLogic® recently released the Home Equity Report for the third quarter of 2020. homeowners with mortgages (which account for roughly 63 percent of all properties) have seen equity increase by 10.8 This marks the largest average equity gain since the first quarter of 2014.

Can I get a mortgage on a house I already own free-and-clear?

The Morgtage Report

There are lots of options for getting a mortgage on a house you already own. Cash Out Refinance Home Equity Homeownership Topics Mortgage StrategyThe right one depends on your goals. Here's what you should know.

Need Cash? 3 Ways To Tap Your Home Equity—and Which One’s Right for You

Realtor.com

If you’re a homeowner, you have options that involve tapping into your home equity —the difference between what your home is worth and how much you owe on your mortgage. There are three main ways to tap into home equity, but sorting through those options can be confusing. How it works: A cash-out refinance replaces your existing mortgage with a new loan that’s larger than what you currently owe—and puts the difference in your pocket. Home equity loan.

Impact of the CARES Act on mortgage servicing operations

Housing Wire

have taken advantage of its mortgage relief provisions. As part of its Flood Services business, CoreLogic completes flood zone determinations for banks and mortgage companies to support their compliance with the mandatory purchase requirements.

Mortgage Tech Rundown: Rocket Mortgage, Tavant and Black Knight

Housing Wire

Nexsys Technologies , a subsidiary of Rocket Companies , launched its Clear HOI platform for all mortgage lenders on Wednesday – a new product it says will cut homeowners’ insurance verification time to mere minutes.

Mortgage industry welcomes incoming Biden administration

Housing Wire

On behalf of the Mortgage Bankers Association , I congratulate Joe Biden on being elected President of the United States,” MBA President and CEO Robert Broeksmit said. The Biden/Harris ticket ran on a progressive platform to expand economic opportunity and equity.”.

HIRO Mortgage Program 2020: The High LTV refinance option

The Morgtage Report

The HIRO program (high-LTV refinance option) lets homeowners refinance into today's low mortgage rates with little or no equity and easier documentation. Home Equity Mortgage News Real Estate News Refinance

Mortgage Tech: Blend, Black Knight and QuestSoft

Housing Wire

Mortgage tech is already off to the races, with companies introducing new digital products early in 2021. Though this isn’t the first time the mortgage tech startup has worked closely with the government entities.

Ask Brian: What Should I Do When Selling My Home with Little Equity?

Realty Biz

Right now, I’m more than a month behind on my mortgage payment and I don’t see a way forward to make the payments for many months to come. All things considered, I can’t sell the house to pay off the mortgage. What are my options when I have little or no equity?

United Wholesale Mortgage plans $16B public debut via acquisition

Housing Wire

United Wholesale Mortgage , the largest wholesale lending firm in the country, is joining the blank-check company craze and will make its public debut via an acquisition. The company is on track to underwrite nearly $200 billion in mortgages this year, up from about $108 billion in 2019.

What MBA’s forecast means for mortgage originators

Housing Wire

Frankly, what will be left in the refi market will likely be harder credit quality transactions that a hungry mortgage origination industry will turn to as volumes drop. The only question then is how mortgage leaders will implement an execution plan to be ahead of the change that’s coming.

Mortgage lending sets a 20-year record with $1.1T in Q2

Housing Wire

trillion in home loans between April and June, marking the biggest quarter in at least two decades, according to mortgage data firm Black Knight. Homeowners with less equity and unfavorable credit were more than twice as likely to have entered forbearance plans.

New American Funding (NAF) Mortgage Review for 2020

The Morgtage Report

Includes mortgage rates, service, complaints, operations, and products offered. New American Funding Mortgage Lender Review. About Mortgages Cash Out Refinance Conforming Mortgages Conventional Loans FHA Refinance Home Equity Mortgage Lender Reviews Mortgage Products Refinance VA Loans VA RefinanceReview of New American Funding showing how the company compares to other top lenders.

This Week’s Top Stories: Canada’s Largest Bank Expects Mortgage Defaults To Soar, and First-Time Buyers Approach Negative Equity

Better Dwelling

Canadian Real Estate Canadian Condo Buyers At The Beginning Of The Pandemic Now Nearly Underwater Canada’s state-owned mortgage insurer warned first-time buyers to be careful at the beginning of the pandemic. Time for your cheat sheet on this week’s most important stories.

Mortgage Tech: Black Knight, CoreLogic and Mutual of Omaha

Housing Wire

As more and more mortgage tech companies enter the scene, competition for accessibility and personalization gained speed this week as proptech touched down in more niche submarkets. The post Mortgage Tech: Black Knight, CoreLogic and Mutual of Omaha appeared first on HousingWire.