Home Equity Highest Since 2008

Washington, DC, June 14, 2012 -- Home equity in the first quarter rose to the highest level since 2008, Bloomberg News reported, based on its analysis of Federal Reserve data.

The gain in percentage terms was the biggest jump in more than 60 years, Bloomberg said.

Homeowner equity was 41% of U.S. residential property value in the first quarter, the highest level since the third quarter of 2008.