Equifax Reports 19% Increase in HELOC Originations

As home prices have begun to rise in various markets throughout the country, Equifax has reported that home equity line of credit (HELOC) originations increased by 19% at the end of 2012. While HELOC originations are not outpacing the origination rate during the housing boom when “Americans withdrew over $1 trillion in home equity,” experts anticipate the growth in demand for HELOCs to continue into 2013. In comparison to the average home equity line in October 2006, which was slightly over $100,000, the October 2012 average home equity line was $90,000. Read more at http://nbcnews.to/Z2W6Ve.

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