Home Equity Loans Make Comeback Fueling U.S. Spending: Mortgages

After six years of declines, Moody’s Corp. 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. | Read More