Home equity originations peaked in the third quarter of 2022 and continued to trend down in the first quarter of 2023. Still, the total amount of funded home equity debt outstanding increased slightly. (Includes three data charts.)
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It got 14 votes from House Democrats, but the Republican-sponsored Middle-Class Borrower Protection Act is unlikely to make it to the Senate.
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Comerica’s exit from the warehouse market is still ringing in the ears of nonbanks. Enter the MBA, whose CEO seems a bit concerned but views the situation as “market forces at work.”
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More than 90% of homeowners with mortgages have loans with interest rates well below prevailing rates. That provides a strong incentive to stay put.
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