Homeowners locked out of $700B in home equity

Roughly $731 billion in home equity is “trapped” and out of reach for homeowners, thanks to high interest rates and credit setbacks tied to job losses and gig work, according to a🔗 report by real estate fintech firm Point.

About 9% of mortgage-holders see employment disruptions annually—events that often dent credit scores and cut off access to home equity loans, HELOCs, or refinancing.

“Millions of homeowners have equity they can’t use when they need it most,” said Point economist Aaron Terrazas. “The shift to non-traditional work and rising borrowing costs are reshaping how—and whether—Americans can tap their homes for cash.”