The latest data shows that most homeowners with a mortgage are not tapping their home equity, which has hit a record high of $6.3 trillion. Don’t miss out on this great opportunity to refinance while rates are low!
More Americans are house rich, but they’re leaving that cash in the house
“‘Borrower equity rose to an all-time high in the first half of 2019 and has more than doubled since the housing recovery started,’ said Frank Nothaft, chief economist for CoreLogic. ‘Combined with low mortgage rates, this rise in home equity supports spending on home improvements and may help improve balance sheets of households who could take out home equity loans to consolidate their debt.'”