Mortgage Daily Logo
mortgage news from industry experts

Fed Report Says Average Home Equity Shrinking

Fed Report Says Average Home Equity Shrinking

First quarter home equity at 55% of household real estate

June 13, 2003

By MortgageDaily.com staff

Equity is shrinking as a percentage of American real estate holdings, according to recent economic analysis.

In its Flow of Funds Accounts of the United States study, released June 5, the Federal Reserve Board detailed information on residential mortgages and equity held by homeowners.

For the first quarter of 2003, homeowner equity equaled 55.2 percent of household real estate, the balance sheet said. This number fell steadily each quarter of 2002, starting the year at 57 percent and landing at 55.8 percent for the fourth quarter.

Actual equity value rose, totaling $7.67 trillion in the first quarter of 2003. Equity has been steadily climbing, with 2002’s first quarter totaling $7.3 trillion.

Owner-occupied property, including manufactured housing, farm houses, second houses that weren’t rented, vacant houses for sale and vacant land was valued at $13.89 trillion for first quarter 2003, according to the Fed. Fourth quarter 2002’s household value came in at $13.70 trillion, the balance sheet said.

Popular posts

How Long Does It Take to Refinance a Mortgage
How Long Does It Take to Refinance a Mortgage

So, you’re interested in refinancing your mortgage. Maybe you want some extra capital to do that home project you’ve always dreamed of, interest rates are nearing record lows, or you want to start consolidating debt. Regardless of the motivation behind the refinance,...

How Does Refinancing a Mortgage Work
How Does Refinancing a Mortgage Work

A home purchase is considered an investment, and a robust one at that. Savvy owners are constantly looking for new ways to reduce debt, save money, pay less in interest, and ultimately build equity. Refinancing is one way to leverage your investment and do just that....

What Does It Mean to Refinance Your Home
What Does It Mean to Refinance Your Home

You can think of refinancing your mortgage as a debt redo. Essentially, you’ll swap out the existing loan for a new one - ideally with better terms and conditions. Only this time it could help you save money on high mortgage payments, rather than just borrow it....

Setting up the Utilities in My New House
Setting up the Utilities in My New House

All the tedious, time-consuming home closing documents have been signed, sealed, and delivered. Your belongings are packed into what seems like a million boxes and you have a solid plan to haul all your existing furniture to the new place. Just as your boxes and...

When Is My First Mortgage Payment Due?
When Is My First Mortgage Payment Due?

Navigating your way through a brand new mortgage loan can be a difficult task, especially for first time homeowners. After handing over a large sum of money for the down payment and closing costs, it’s important to pay attention to the timing of your first mortgage...

Newsletter

Don’t worry, we don’t spam

calculate your monthly mortgage payment

Related Topics

Helpful Links

Daily mortgage rate trends

Best mortgage lenders

First-time homebuyers programs by state

Loan limits by state

Types of mortgages

APR vs interest rate

Understanding PMI

Related Posts

THE TRUSTED PROVIDER OF ACCURATE RATES AND FINANCIAL INFORMATION