By the end of 4Q 2015, the total number of mortgaged residential properties with equity had risen to 46.3 million or 91.5% of all mortgaged properties. HousingWire staffer Cynthia Barraza takes a look a CoreLogic report that 1 million borrowers had regained equality in 2015.
While 1 million borrowers regained equity, the report shows mortgage residential properties with negative equity also increased by 2.9% from last quarter to 4.3 million. However on an annual basis, negative equity was down 19.1%:
“In Q4 of last year home equity increased by $680 billion or 11.5%, the 13th consecutive quarter of double digit growth," said Frank Nothaft, chief economist for CoreLogic.
“The improvement in equity reflects positive home prices and continued deleveraging of mortgage balances by households,” added Nothaft.