Home prices tumble in July, posting biggest decline since 2011
Black Knight said in a new report on Wednesday that home prices dropped 0.77% in July, the first monthly decline in three years and the biggest drop since 2011.
Source: foxbusiness.com
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Housing market: How much are home prices falling?
As the U.S. housing market cools, home prices declined 0.77% from June to July, marking the first monthly decline in 3 years. Meanwhile, the Salt Lake City area remained the second highest metro in the nation for home price increases from June to July.
Source: deseret.com
Serious delinquencies resume their decline, but at a more gradual pace
The number of these mortgage borrowers getting back on track with payments has been roughly halved since March, according to Black Knight's initial take on July numbers.
Source: nationalmortgagenews.com
HELOCs are now "raging back"
A combination of fast-rising home values and the fact that nearly two-thirds of borrows with at least some home equity have mortgage rates below 4% — and would not benefit from refinancing — is helping to propel a resurgent market for home-equity lines of credit (HELOCs).
Source: housingwire.com
Is home equity, now at $11.5 trillion, at its peak?
Tappable home equity rose for a 10th consecutive quarter, but data suggests that we are near the peak.
Source: housingwire.com