ICE Mortgage Monitor: Record Levels of Tappable Equity, Fed Rate Cuts Could Spur Resurgence in Home Equity Withdrawals
Intercontinental Exchange Inc. (ICE)
Last intercontinental exchange inc. earnings: 4/30 07:30 am
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Source: Business Wire
- As of the end of Q3 2024, U.S. mortgage holders held $17.2T in equity, of which $11.2T is ‘tappable,’ meaning it can be borrowed against with the homeowner maintaining a 20% equity stake in their home- The average homeowner with a mortgage now has $319K of equity in their home, of which $207K is tappable- Though Q3 withdrawals hit a two-year high – both collectively and individually among second lien products ($27B) and cash-out refinances ($21B) – the total represented just 0.42% of available tappable equity- Borrowers have been withdrawing equity at less than half the 10-year average 0.92% extraction rate, with second lien products 26% below typical levels and cash-outs 69% below the norm- The past 10 quarters have seen half the equity extraction to be expected in a ‘normal’ market, meaning $476B has gone untapped and not flowed back through the broader economy- In recent quarters, introductory rates on HELOCs have topped 9.5%, more than doubling the $167 March 2022 monthly intere
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News
- ICE First Look at Mortgage Performance: Serious delinquencies hit 17-month high while foreclosure activity remains historically muted [Yahoo! Finance]Yahoo! Finance
- ICE First Look at Mortgage Performance: Serious delinquencies hit 17-month high while foreclosure activity remains historically mutedBusiness Wire
- NYSHEX Announces First Close of Series C Funding Round Led by Collate Capital, Collaborating with ICE to Launch New Freight Rate Indices [Yahoo! Finance]Yahoo! Finance
- NYSHEX Announces First Close of Series C Funding Round Led by Collate Capital, Collaborating with ICE to Launch New Freight Rate IndicesBusiness Wire
- European Union Raises €7 Billion From Syndicated Bond [Yahoo! Finance Canada]Yahoo! Finance Canada
ICE
Earnings
- 10/31/24 - In-Line
ICE
Sec Filings
- 11/15/24 - Form 4
- 11/15/24 - Form 4
- 11/15/24 - Form 4
- ICE's page on the SEC website