U.S. Mortgage Holders Hold Record $18 Trillion in Home Equity

U.S. mortgage holders held a record $18 trillion in home equity in the second quarter of 2026, including $11.7 trillion in potentially tappable equity across 47.5 million borrowers, according to ICE Mortgage Technology. The gains are uneven: about 813,000 borrowers owed more than their homes were worth, up 44% from a year earlier, with the increase concentrated among FHA and VA borrowers and people who bought between 2022 and 2025. Nationally, 41.1% of mortgaged residential properties were considered equity-rich, meaning secured loan balances were no more than half the homes’ estimated market value. Vermont ranked first, with 78.9% of mortgaged properties equity-rich, followed by Montana, Rhode Island, South Dakota and New Hampshire. Louisiana ranked last at 17.5%, underscoring the wide geographic divide in homeowners’ financial cushions.