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Available home equity rose by $256 billion in the
April-June period of 2018, to a record $6.06 trillion
nationwide, Black Knight reported. The second
quarter saw the fourth-biggest quarterly gain in
equity since the recovery, but the pace slowed from
a strong first quarter and was in step with cooling
home prices, the company said.
“The systemic reliance that we are
placing on Fannie Mae and Freddie
Mac, if anything, has grown in these
10 years [since they were placed in
Former acting director, Federal Housing Finance Agency
Chief Economist, Freddie Mac
“If you look at home sales, they are
plateauing and that began in
wanes in 2018
Home-mortgage refinance volume was
projected to end the year at $457 billion in
2018, down 24 percent from the 2017 level, the
Mortgage Bankers Association (MBA) reported
as of this past August. The refinance volumes
are expected to hit a floor of $395 billion in
2019 and 2020, the MBA said.
Source: Black Knight
Source: Mortgage Bankers Association
Available U.S. Home Equity
Refinance Volume for Single-Family Homes
*As of June