Housing Scorecard: Homeowner Equity Position Much Improved

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Posted To: MND NewsWire

The Departments of Treasury and Housing and Urban Development released the August version of their monthly Housing Scorecard this afternoon. The Scorecard is a summary of housing data from various sources such as the S&P/Case-Shiller house price indices, the National Association of Realtors® existing home sales report, Census data, and RealtyTrac foreclosure information. Most of the information has already been covered by MND. According to the scorecard homeowner equity has risen to its highest level since the third quarter of 2008 and 1.3 million borrowers have been lifted above water, largely due to rising home prices. Equity jumped $406 billion or 5.9 percent to $7,275 billion in the second quarter of 2012. Combined with a sharp increase in the first quarter, equity has risen $863...(read more)

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Source: www.mortgagenewsdaily.com

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