The majority of borrowers impacted by Hurricane Harvey have a significant amount of equity, while many in Hurricane Irma disaster areas have limited or negative equity, according to Black Knight Financial Services.

The percentage of newly originated loans that are used to refinance an existing mortgage could shrink dramatically in 2018 as rates rise and burnout continues.

Homeowners gained an average of $12,987 in equity from last year, with Western states leading the increase.

Lenders will not have to report data on open-ended home equity lines of credit in 2018 or 2019 if they originated fewer than 500 HELOCs the preceding year, the bureau said.

The number of U.S. properties that were equity rich in the second quarter grew by 1.6 million properties from a year ago.

Defaults on second-lien mortgages have crept up on a year-to-year and a consecutive-month basis; and first-lien defaults are above where they were the previous month, but still below year-ago levels.

Despite rising home prices and a market where many older homeowners are loath to sell, home equity line of credit lending remains muted in all but one corner of the industry: credit unions.