Equity availability expands for homeowners

Total home equity in the U.S. has increased by nearly $1 trillion in the past year, reaching the highest level since 2007. When looking at the nation’s population of mortgage holders and comparing first- and second-lien debt against May property values, the average American homeowner has about $19,000 more equity in their home today than a year ago, according to a recent Black Knight Financial Services’ report.