Even when minorities do become homeowners, research shows that homeownership delivers fewer benefits than it does for white families—including significantly less home equity. Yet there are steps we as an industry can take toward leveling the playing field.
Tag: Home Equity
Richard Ferguson: What We Can Do to Help Close the Homeownership Wealth Gap
Even when minorities do become homeowners, research shows that homeownership delivers fewer benefits than it does for white families—including significantly less home equity. Yet there are steps we as an industry can take toward leveling the playing field.
MBA Advocacy Update Aug. 10, 2020
As congressional leaders and the administration remain deadlocked in negotiations on the next potential COVID-19 relief package, MBA’s advocacy on key federal regulatory and state-based actions has continued.
MBA: Home Equity Lending Growth Hindered by Alternative Products and COVID-19
Home equity loan debt outstanding and borrower utilization rates declined in 2019 and mortgage lenders anticipate originations to fall again this year before increasing modestly in 2021, the Mortgage Bankers Association reported.
Quote
“Households in 2019 remained hesitant to tap into the equity in their homes, despite several years of significant home-price appreciation resulting in sizable home equity gains.”
–MBA Vice President of Industry Analysis Marina Walsh.
Homeowners Gained $5,300 in Equity in Third Quarter on Average
U.S. homeowners with mortgages have seen their equity increase by 5.1 percent year-over-year, representing a nearly $457 billion gain since third-quarter 2018.