2024 Q1 US mortgage holder home equity nears record high at $17 trillion, up 70% from pre-pandemic levels; high interest rates hinder equity access.
Home equity for US mortgage holders is near a record high, reaching $17 trillion in Q1 2024, just below the record set in Q3 2023. The average equity per borrower increased to around $305,000 from a year earlier, up almost 70% from pre-pandemic levels. However, high interest rates make it challenging to tap into this equity, as financial advisors warn. The rise in home equity is primarily due to rising home prices.
June 10, 2024
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