ICE Mortgage Monitor: Historically Strong Home Price Growth Pushes U.S. Mortgage Holders’ Tappable Equity to Record $11T
Intercontinental Exchange Inc. (ICE)
Last intercontinental exchange inc. earnings: 4/30 07:30 am
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Source: Business Wire
Though rising rates have dampened purchase demand and allowed for modest inventory growth, a continuing deficit of homes for sale this spring is helping prices remain resilientAccording to the ICE Home Price Index, prices rose 1.2% in March, more than 25% above the 25-year average increase, marking the third consecutive month of above-average home price gainsOn an annual basis, home price growth eased slightly in March to +5.6% from an upwardly revised +6.0% in FebruaryStrong home price growth in early 2024 increased mortgage-holder equity to a record $16.9T in Q1, $11T of which can be leveraged while retaining a 20% equity cushion – also an all-time high48M U.S. homeowners with mortgages have some level of such tappable equity, at an average of $206K per borrower, up from $185K at the same time last yearTwo thirds of all tappable equity is held by homeowners with credit scores of 760 or higher, making for a relatively low-risk lending cohortAn equal share – two thirds – is held by ho
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- 5/2/24 - In-Line
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- 5/8/24 - Form 424B5
- ICE's page on the SEC website