Last year's feverish home purchases resulted in skyrocketing values and the highest equity ratio in at least a decade.
On an annualized basis, homeowners with mortgages accumulated over $ 1.92 trillion in equity in the first quarter of 2021, an average of $ 33,403 per borrower, according to CoreLogic. That compared to $ 1.58 trillion and $ 26,512 in the previous quarter and $ 665 billion and $ 12,188 a year ago.
As a result of the growth, the negative equity ratio also fell by 24% annually to the lowest value since at least 2009. The proportion of underwater borrowers decreased to 2.6% with an aggregated unpaid capital balance of 273 billion 2020 and 3.4% and 286.3 Billion US dollars year over year.
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