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Home equity hits a record, and borrowers switch lenders
Published Nov 13, 2026 · Last checked Nov 13, 2026 · Last changed Nov 13, 2026Mortgage holders held a record amount of home equity in the third quarter, and most borrowers who refinanced to take cash out left their servicer.
- For
- Credit unions that make mortgages and home equity loans. All sizes. Chief lending officer, marketing lead.
The facts
- ICE published its November Mortgage Monitor on Nov 9, 2026. It covers the third quarter.
- Mortgage holders held $17.5 trillion in home equity. ICE says that is a record for a third quarter.
- The average borrower could take out $204,000 and still keep 20% equity.
- Cash-out loans were about 1 in 7 rate locks in recent weeks.
- Servicers kept 26% of the borrowers who did a cash-out refinance.
- Rates on 30-year fixed loans moved above 7% in early October.
What it means for you
About three in four borrowers who refinanced to take cash out left their current servicer to do it.
Sources
- ICE Mortgage Monitor press release, published by Finviz, company data release, Nov 9, 2026.