Seriously underwater homeowners, those people whose mortgage debt is 125 percent or more of their current home’s value, increased to 13.2% of all home loans during the 1st quarter of 2015, marking the first increase in rate from the prior quarter since February 2012, according to a report released this morning from RealtyTrac. As the chart below shows, the percentage of homeowners that are seriously underwater, peaked during the 2nd quarter of 2012 at 28.6% and has decreased every quarter until reaching the most recent low of 12.7% during the 4th quarter of last year.
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Source: RealtyTrac
More Equity-Rich Homeowners Than Negative Equity Homeowners…
As the chart below shows, the share of homeowners that are equity-rich (meaning their mortgages are 50% or less of their current home’s value) increased around the 3rd quarter of last year to a higher rater than the share of homeowners that were seriously underwater.
Source: RealtyTrac