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  • Writer's pictureLoanOnTime
    • Sep 21, 2020
    • 1 min read

Home Equity Surges As Demand Soars & Mortgage Rates Hover Near Lows


KEY POINTS


  • Home equity for homeowners with a mortgage rose 6.6% annually in the second quarter, according to CoreLogic.


  • Collectively, that adds up to a gain of $620 billion, or $9,800 per home.


  • The total supply of homes for sale was just over 29% lower annually for the week ending Sept. 12, according to Zillow. Homes typically went under contract after just 14 days, which is 14 days faster than one year ago.  



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