Experian Reports Increases in Mortgage Originations and HELOCs

In an analysis of existing and new home sales data, Experian reported this week that with the increases in mortgage originations, the housing recovery is showing signs of sustainability. Alan Ikemura, senior product manager and business consultant for Experian Decision Analytics, stated, “The key statistic in the real-estate market is the change in the ratios of refinances versus home purchases making up a great proportion of the total origination volume. The data from our IntelliView product indicates that despite a seven percent decrease from the previous quarter in refinancing activity, home purchases grew by 20 percent year over year and 29 percent quarter over quarter, and this is where we can begin to see some the real-estate recovery taking place.” Experian also noted that the demand for home-equity lines of credit (HELOCs) was on the rise with second quarter data showing 30% more HELOCs than the prior quarter and 10% more than the year before. To read more about Experian’s findings and conclusions, go to http://bit.ly/16lwuEw.

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