Home-Equity Lending Down Slightly in 1st Quarter, But Unused HELOC Commitments Trended Higher
June 9, 2016
New home-equity lending activity fell during the first quarter of 2016, but the market started the year well ahead of the pace in early 2015, according to a new Inside Mortgage Finance ranking and analysis. New home-equity originations on home-equity lines of credit and closed-end second mortgages fell by 6.3 percent from the fourth quarter to an estimated $45.0 billion. However, that was up 18.4 percent from the first quarter of last year. The first-quarter drop in home-equity lending mirrored...[Includes three data tables]
The creation of a U.S. sovereign wealth fund could grease the skids for an end to the conservatorships of Fannie Mae and Freddie Mac.
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