- Total equity on mortgaged properties now stands at $9.8 trillion, $5.9 trillion of which is tappable
- Tappable equity - the amount available for homeowners with mortgages to borrow against before hitting a maximum 80 percent combined loan-to-value (LTV) ratio - fell by $140 billion in Q3 2018
- A total of 43.6 million homeowners have tappable equity available, approximately 272,000 fewer than in Q2 2018
- The average homeowner with at least 20 percent equity in their home has $136,000 in tappable equity available, about $2,300 less than in the last quarter
- Tappable equity declined in 60 of the nation's 100 largest markets in Q3 2018, with softening home prices in the most equity-rich among them driving the decline
- California alone accounted for nearly 75 percent of the total decline in tappable equity, as markets continue to react to rising interest rates and tightening affordability
PR Newswire
JACKSONVILLE, Fla., Dec. 10, 2018
