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Home | Tag Archives: Home Equity

Tag Archives: Home Equity

Fannie Mae’s Research Shows Perceived Negative Equity is Hurting the Housing Market

underwater

The National Housing Survey from Fannie Mae contains data that suggests that homeowners who are underestimating how much equity they have in their homes may also be underestimating in other areas, such as how large of a downpayment they could make with that equity; their chances of qualifying for a mortgage, assuming they need a large downpayment; and their opportunities for selling their house and buying another one.

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Underwater Borrower Rate Drops Below 17 Percent

underwater-five

The number of U.S. homeowners who owe more on their mortgage than their home is worth has fallen off by nearly half in the last two years, but third-quarter data shows millions are still close to slipping back under. By the end of Q3 2015, the company expects negative equity will drop further to a rate of 15.2 percent. While improving trends in home values and foreclosures have helped push more homeowners into positive equity positions, many are still barely afloat, possessing too little equity to realistically afford the cost of selling their home and buying a new one. Because they're essentially locked into their houses, those homeowners are unable to contribute to their local stock of for-sale homes and are stuck in the way of entry-level or move-up buyers.

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