More home owners are edging above water with their mortgages: 2.5 million U.S. properties emerged from underwater or negative equity in the second quarter. The total number of residential properties with a mortgage with equity stands at 41.5 million.
“Seeing fewer underwater mortgages is no mystery, given the continued rise in home values over the last 12 months,” credit risk practice.This is good news since these more traditional buyers will ensure the appreciation trend will continue over the near future. In addition, as long as new construction does not change the supply/demand balance in favor of excess supply, appreciation should persist until most of the underwater loans are gone.”
No comments:
Post a Comment