REAL ESTATE INFO THAT HITS US WHERE WE LIVE… 

IMAGE OF JERRY TUBBS REAL ESTATE BLOG

The latest Black Knight Mortgage Monitor report says tappable home equity shot up to an all-time high of $5.5 trillion in Q3 of 2017. Black Knight, a mortgage data and analytics firm, defines tappable equity as the amount homeowners can borrow before they reach the maximum 80% of a home’s value. Significantly, this number is up $3 trillion from its 2012 bottom. The firm also reports that four out of five mortgage holders now have equity they can tap into through either HELOCs or cash-out refinances.

Mortgage applications for those refinances kicked up 11% from two weeks ago, according to the latest Mortgage Bankers Association Applications Survey, with the Purchase Index up a healthy 5%. Realtor.com‘s 2018 housing forecast for builders advises them to take advantage of strong buyer demand, greater millennial involvement and healthier wage growth, and boost entry-level home construction. Most American workers will soon see bigger paychecks, as employers must implement new withholding amounts dictated by the tax cuts by February 15.

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