Home-Equity Lending Tapered Off in Early 2015, But New HELOC Commitments Tick Higher
June 11, 2015
Americans were too busy refinancing and shoveling snow to get new home-equity loans during the first quarter of 2015, a new Inside Mortgage Finance analysis reveals. Mortgage lenders did an estimated $19.5 billion of home-equity lending during the first three months of 2015, based on new commitments for home-equity lines of credit – by far the most active part of the HEL market – plus originations of closed-end seconds. That was down 7.1 percent from the fourth quarter of last year. Despite the slowdown in the first quarter, home-equity production was...[Includes three data tables]
Some SWFs in other countries have extensive ownership interests in major corporations and sweep much of their profits into state coffers.
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