Home Equity Loans Make Comeback Fueling U.S. Spending
After six years of declines, Moody's forecasts that lending for home equity lines of credit will rise 30 percent to $79.6 billion this year, the highest level since the start of the financial crisis four years ago. Meanwhile, Moody's projects that originations in 2013 will jump another 31 percent to $104 billion. The Mortgage Bankers Association notes that the amount of equity homeowners had in the second quarter increased by $406 billion to $7.3 trillion, the highest level since 2007.
From "Home Equity Loans Make Comeback Fueling U.S. Spending"
Bloomberg (11/26/12) Howley, Kathleen M. ---BAI
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