The Federal Housing Finance Agency published insight into homeowners’ equity status, which remains high. According to these statistics, negative equity is at its lowest in the past decade. While high-equity mortgages have been consistent recently, mortgages with equity of more than or equal to 30% have risen from 46.1% in the first quarter of 2013 to a 10-year high of 83.3% by the first quarter of 2023.
Furthermore, percentage equity has increased over the last period. Rising housing prices play a role in this growth; however, if housing prices decrease, the amount homeowners owe will outweigh the worth of their homes.