Black Knight, Jacksonville, Fla., said 57 percent of recent borrowers used rate buydowns to purchase a home, with nearly 25 percent paying two or more points upfront.
Tag: Ben Graboske
Black Knight: 8% of 2022 Mortgaged Home Purchases Underwater; FHA Loans See Early-Payment Defaults Rise
Black Knight, Jacksonville, Fla., said of all homes purchased with a mortgage in 2022, 8% are now at least marginally underwater and nearly 40% have less than 10% equity stakes in their home, a situation most concentrated among FHA/VA loans.
Black Knight: Tappable Equity Likely Peaked in Spring
Black Knight, Jacksonville, Fla., said falling home prices likely resulted in homeowners’ tappable equity peaking this past May.
Mortgage Holders Gain $1.2 Trillion in 1Q Tappable Equity
The least-affordable housing market in nearly two decades provides at least one windfall—the average home has gained nearly 9 percent in value since just the start of 2022, with homeowners gaining more than $1.2 trillion in equity in the first quarter, said Black Knight, Jacksonville, Fla.
Black Knight: Homeowners Tap Equity at Highest Rate in 16 Years
Black Knight, Jacksonville, Fla., said lenders originated a record 4.4 trillion in 2021, including a record $1.7 trillion in purchase loans.
Home Prices Re-accelerate; Equity Smashes Records; ‘Worst Affordability in 14 Years’
Black Knight, Jacksonville, Fla., said inventory shortfalls caused home prices to re-accelerate in 2021, putting pressure on home affordability but also creating for homeowners a record amount of tappable equity.
Black Knight: Tappable Equity Surges to Record-High $9.4 Trillion
Black Knight, Jacksonville, Fla., said tappable equity – the amount available for homeowners to access while retaining at least 20% equity in their homes – rose by 32% over the past year, an increase of $2.3 trillion over the past year.
Black Knight: Strong Equity Could Affect Foreclosure Starts
Black Knight, Jacksonville, Fla., said even though just 7% of homeowners in forbearance have less than 10% equity after including 18 months of deferred payments, the potential for foreclosure activity persists.
Black Knight: Tappable Equity Rises to Record-High $9.1 Trillion
Driven by the red-hot housing market, tappable equity – the amount available to homeowners before reaching a maximum 80% combined loan-to-value ratio – surged nearly 40% from last year to a record $9.1 trillion in the second quarter, said Black Knight, Jacksonville, Fla.
Black Knight: Delinquencies at Record Low: MBA to Release National Delinquency Survey Friday
Ahead of this Friday’s release of the Mortgage Bankers Association’s 1st Quarter National Delinquency Survey, Black Knight, Jacksonville, Fla., said just 217,000 homeowners became past due on their mortgages in March, the lowest such delinquency inflow of any month on record.