Rising home prices, especially in cities located in the West, are helping to boost origination levels for home-equity lines of credit. A shift from refinances to purchase financing is a good sign for the housing market.
HELOC originations during the second quarter of this year soared compared to the prior three-month period, with volume up 30 percent from the first quarter.
The story was the same for year-over-year HELOC production, which was also up 30 percent compared to the second-quarter 2012.
HELOC originations during the second quarter of this year soared compared to the prior three-month period, with volume up 30 percent from the first quarter.
The story was the same for year-over-year HELOC production, which was also up 30 percent compared to the second-quarter 2012.
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