NYMT - U.S. mortgage holders saw record $1.2T boost in tappable equity in Q1: Black Knight

Existing U.S. mortgage holders saw their collective tappable equity, or the amount available to borrow against a home while retaining a stake of at least 20%, increased by a record $1.2T in the first quarter, according to Black Knight's Mortgage Monitor Report released Monday.  As for home prices, which have been on a tear over the past year and felt by prospective homebuyers, “home price growth cooled – albeit very slightly – in April,” said Black Knight President Ben Graboske. Specifically, home prices gained 19.9% Y/Y in April compared with the upwardly revised record 20.4% increase in March.  "April’s decline is more likely a sign of deceleration caused by the modest rate increases in late 2021 and early 2022 when rates first began ticking upwards," Graboske added.  Historically high home prices loom amid a continued lack of supply, resulting in bad homebuying conditions. As of May 19, the payment-to-income ratio

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U.S. mortgage holders saw record $1.2T boost in tappable equity in Q1: Black Knight