DECEMBER 11TH, 2018
To cash out, or to not cash out? That is this morning’s question. Q3 of this year saw a decline in national home equity by roughly $160 billion, now totaling $9.8 trillion. However, the good news there is held in that second number. Of that total equity, $5.9 trillion of it is tappable, meaning 43.6 million homeowners across the US have tappable equity. That’s great news for a refi market that has shifted primarily to cash-out. Rates are at their lowest levels in months, and with housing prices flattening, NOW is the time to draw out equity to fulfill short- and long-term financial goals.