30-Year Mortgage Rates Climb Near 4% Range

850K Borrowers Rise Out of Negative Equity in Q1

Significant improvements in home values helped lift 850,000 borrowers out of negative equity in the first quarter, CoreLogic reported. 

'The negative equity burden continues to recede across the country thanks largely to rising home prices,' says Anand Nallathambi, president and CEO of CoreLogic.

“The impressive home price gains of 2012 and the beginning of 2013 have had a big impact on the distribution of residential home equity,” said Dr. Mark Fleming, chief economist for CoreLogic. “During the past year, 1.7 million borrowers have regained positive equity. 

30-Year Mortgage Rates Climb Near 4% Range. Are 4 percent mortgage rates the new norm?