Home equity hits all time high, but Americans aren’t tapping it

American homeowners have a record amount of wealth in their homes they can tap, but few of them are. 

Total home equity in the U.S. rose to its highest level ever at $6.5 trillion in the first quarter before the coronavirus pandemic took hold, according to Black Knight, a loan research and analytics firm, up from $6.2 trillion at the end of 2019.

Read more: Coronavirus: What if you can’t pay your mortgage?

But the share of cash-out refinances, which unlock that wealth, fell to a four-year low. As of June, there were no indications that cash-out refinances were

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Time to fix that leaky faucet? Home improvement stores busy in coronavirus lockdowns

Some people stuck at home amid coronavirus lockdowns are using the time to whittle down their fix-it lists and home improvement projects, retailers say.

“We’re definitely seeing the folks stuck at home saying, ‘Hey, I’m going to do that project which I’ve been wanting to do,’ ” said Barbara Werkheiser, co-owner of Nazareth Hometown Hardware in Pennsylvania, Lehigh Valley Live reports. “I think people are trying to be constructive.”

For others, however, it’s less a matter a choice rather than necessity.

In Portland, Oregon, Kat Bradfield said she’s trying to obey a state stay-at-home order but needed a new ethernet

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