Homeowner Equity Grew a Record $1T in Q2

American homeowners gained a record $1 trillion in tappable equity in the second quarter of 2021, a single-quarter record according to mortgage data company Black Knight, Inc. That brings the total equity available to $9.15 trillion, up 37 percent in a single year. “Such strong equity positions should help limit the volume of distressed inflow into the real estate market as well as provide strong incentive for homeowners to return to making mortgage payments – even if needing to be reduced through modification,” said Ben Graboske, Black Knight president of data and analytics. According to their latest Mortgage Monitor report, this available equity comes even as loans against home equity surged. “The 1.1M cash-outs originated in Q2 were the largest quarterly volume…