Tax Law HELOC and Sentiment Impact; Rates Back Near Recent Highs

Tax Law HELOC and Sentiment Impact; Rates Back Near Recent Highs

Black Knight's Mortgage Monitor for November notes that the equation for tapping the growing pool of homeowner equity could shift because of the new rules governing the mortgage interest deduction (MID) in the newly passed tax law. That equity continues to grow as home prices rise, with Black Knight's Home Price Index posting another increase , 0.29 percent increase in November, the strongest appreciation for any November since 2005, and an annual increase of 6.48 percent, the largest since early 2014. Black Knight's reported gain, incidentally, was the smallest of the four reported by indexes tracked by MortgageNewsDaily. The other three posted monthly gains for November ranging from 0.5 to 2.0 percent. Black Knight said the growth rate in its annual index increased by more than 30 basis points