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CoreLogic, Irvine, Calif., said U.S. homeowners with mortgages (63 percent of all homeowners) saw their equity increase by $227 billion in the third quarter from the previous quarter, an increase of 3.1 percent.Year over year, home equity grew by $726 billion, an increase of 10.8 percent.
CoreLogic is also reporting that home equity grew by $726 billion from the third quarter of 2015 to this year’s third quarter, a 10.8 percent spike. Mortgaged residential properties with negative equity stood at 3.2 million, or 6.3 percent of all homes with a mortgage, down by 10.7 percent quarter-over-quarter and a 24.1 percent year-over.
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More Homeowners Seeing Rise in Home Equity. CoreLogic said in a statement. Year over year, home equity grew by $726 billion, representing an increase of 10.8 percent in this year’s third.
Home equity is simply the amount of your current home that you have already paid off. For example, if your home is worth $300,000 and your mortgage still has a balance of $150,000, then you have $150,000 of equity in your home.
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Year over year, home equity grew by $726 billion, representing an increase of 10.8% in Q3 2016 compared with Q3 2015, the company said. During the third quarter, the company said the total number of mortgaged residential properties with negative equity stood at 3.2 million, or 6.3% of all homes with a mortgage.
Home equity for all homeowners (with and without mortgages) grew by $726 Billion, a year-over-year increase of 10.8%. Additionally, 384,000 borrowers moved out of negative equity. To date, 93.7% of all mortgaged properties are homes with positive equity, approximately 48 Million homes.
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