Homeowners in the U.S. have gained a collective $1.01 trillion in equity over the last year, according to CoreLogic, a property-data tracking company. Home equity jumped 13.3% in the first quarter of 2018 in a year-over-year comparison. The increase is the largest since 2014, and means an additional $16,300 in home equity for the average borrower. Despite the gains, the report also found that 4.7% of homeowners with a mortgage owe more on their homes than they are worth. That’s 2.5 million borrowers.
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