American mortgages holders saw their collective tappable equity, the amount owners have available to borrow against a home while retaining a stake of at least 20 percent, increased by a record $1.2 trillion in the first quarter of 2022, according to Black Knight’s Mortgage Monitor Report released on June 6.
Mortgage holders have gained a total of $2.8 trillion in tappable equity over the past 12 months, an increase of 34 percent—the equivalent of more than $207,000 in equity available per borrower.
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Although rising home prices and interest rates have tightened affordability in the housing market, the same price dynamics have, at least temporarily, managed to increase the housing wealth of existing American mortgage holders significantly….