Items Tagged with 'HELOCs'

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Mild winter gives spring home remodeling a head start

NAHB says remodelers may struggle to meet rising demand
A new report from NAHB shows remodeling is on the rise, getting an early start this spring after a mild winter. Many homebuyers are taking out HELOCs for remodeling purposes as the loan rises in popularity with the fall of refinances. However, experts explain there is one problem blocking the new trend.
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As home equity loans rise, here's the latest pulse on delinquencies

Hint: The housing market is improving
The market is starting to welcome home equity lines of credit back into the fold after a long hiatus stemming from the financial crisis. Given their growing prominence, a new report from the American Bankers Association’s Consumer Credit Delinquency Bulletin gives a current pulse on the health of home equity lines of credit by looking at delinquencies.
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CBA LIVE: HMDA compliance will be here faster than you think

Advice on prepping HELOC loans for HMDA
Even at an overview level, the new Home Mortgage Disclosure Act is intensive, as evidenced by the insights of two panelists at the Consumer Bankers Association’s CBA LIVE conference, who zeroed in on the new act’s impact on home equity lines of credit. Up until this point, there haven’t been any major changes to HELOCs.
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Millennials lead other generations in rising HELOC trend

HELOCs expected to replace dwindling refis
As interest rates rise, refinances continue to decrease, leaving an open gap in the market for home equity lines of credit to take the place. Interest rates are up from last year, but so are home prices, giving homeowners a new source of equity to tap into. Most surprising, however, was that Millennials hold the leading share of HELOCs.
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HELOCs increase for 17th consecutive quarter

Total home loan originations still decrease
Home equity lines of credit applications increased once again in the second quarter. The rising home prices are giving more equity to homeowners who are now looking at using it. The good news is more homeowners are using their HELOCs as a means of home improvement.
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ABA: Here's proof rising home equity levels are good for consumers

Demand for home loans increasing
Even before Brexit hit, mortgage rates were at historical lows, igniting a surge in demand for home equity loans at the end of last year and into this year. After the financial crisis, home equity lines of credit fell to the wayside as lenders tried to avoid new defaults, but this is no longer an issue according this new report.
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Black Knight: U.S. total equity up $825B to $7.6T

Some $4.5T in equity that’s “tappable,” highest since 2007
Home equity in the U.S. has increased by nearly $1 trillion in the past year to the highest level since 2007, and that has direct implications for borrowers’ ability to access the equity in their homes. Want to know how?
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Home Depot posts $1.6B net income in 1Q

Retailer improves fiscal year sales guidance on sales gains
The largest home improvement retailer, Home Depot, reported big gains in sales and net income — so much in fact they've raised their sales guidance for the rest of 2015.
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