More Homes Have Positive Equity

A recent report by CoreLogic states that nation-wide 47.9 million home – or 93.7 percent of those having a mortgage – now have positive equity.

Moreover, 95.2 of California homeowners have positive equity and San Francisco leads the nation with 99.4 percent as of the third quarter, 2016.

Of course, equity gains are due in large part to continually rising home prices – certainly a constant in the Bay Area – but also to favorable mortgage rates.

The report notes that mortgage rates remain relatively low but have risen for six consecutive weeks since the presidential election as are expected to continue to raise, particularly if the Federal Reserve raises interest rates next week.

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