Mortgage Equity Withdrawal Positive in Q2

Note: This is not Mortgage Equity Withdrawal (MEW) data from the Fed. The last MEW data from Fed economist Dr. Kennedy was for Q4 2008. The following data is calculated from the Fed's Flow of Funds data (released last week) and the BEA supplement data on single family structure investment. This is an aggregate number, and is a combination of homeowners extracting equity - hence the name "MEW" - and normal principal payments and debt cancellation (modifications, short sales, and foreclosures). For Q2 2019, the Net Equity Extraction was $23 billion , or a 0.6% of Disposable Personal Income......(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

from Around The Web https://ift.tt/34XA7HV
via IFTTT