BRED Mortgage: More Money in Your Pocket
One of the important lessons learned in the great recession is that homeowners would benefit from the ability to build equity in their home faster. Equity helps a borrower to refinance during an economic crisis, to save for a trade‐up purchase, to access a business loan, and to shape one’s retirement.
Furthermore, the market will experience changes in the near future that suggest a need for improved equity growth. Balancing the need for more equity with other consumer priorities like affordability is key.
This piece is intended to raise a discussion about looming changes in the market, the need for financial innovation in products and institutions, and one potential solution, but it is not an official NAR position or endorsement.