Will Home Equity Levels Rise in 2022?
One of the most enticing benefits of owning a home is getting to build equity in one. That equity can then serve as a cash source as needed, whether via a home equity loan, HELOC, or cash-out refinance.
Last year, home values rose substantially on a national level, and that led to a massive increase in home equity. Black Knight reports that as of late 2021, homeowners had amassed a collective $9.4 trillion in equity. And tappable equity -- the amount homeowners can access while still retaining at least 20% equity in their homes -- rose by 32% between 2020's third quarter and the third quarter of 2021.
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Source Fool.com
