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Record High Equity Thanks to Mortgage Credit Demographics; Rates Near Recent Highs

Record High Equity Thanks to Mortgage Credit Demographics; Rates Near Recent Highs

As the value of residential real estate rises with home prices, so has the owner's equity share of that value. Jing Fu, writing in the National Association of Home Builders' (NAHB) Eye on Housing Blog, says that equity hit a new high in the first quarter of this year. Fu uses figures from the Federal Reserve's Board of Governors' Financial Accounts of the U.S. to show the overall nominal, non-seasonally adjusted value of owner-occupied housing units in the nation grew to $25.1 trillion during the quarter. This is an increase of $544 billion from the total in the fourth quarter of 2017 and $1.674 trillion more than the first quarter of last year. At the same time, the growth of mortgage debt fell negative in 2008 and remained so until early 2015. It has risen only modestly since then. Its was
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