Renovation Boom Has Homeowners Taking Out More HELOCs

Printer-friendly version
May 30, 2017

Fast-rising home prices and a record-low number of homes for sales have a lot of homeowners choosing to stay put and renovate. Since home values are higher, they have more cash available to take out of their homes, and a lot of borrowers are opting for a second loan, such as home equity line of credit (HELOC), instead of refinancing their current mortgages. HELOC originations were up 10 percent year over year in 2016, hitting an eight-year high according to Black Knight Financial Services.

Read more

Add new comment

Filtered HTML

  • Web page addresses and e-mail addresses turn into links automatically.
  • Allowed HTML tags: <a> <em> <strong> <cite> <blockquote> <code> <ul> <ol> <li> <dl> <dt> <dd> <img>
  • Lines and paragraphs break automatically.
  • Captions may be specified with [caption]<img src="example.png">Image caption[/caption]. Items can be aligned with [caption align=left].

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
By submitting this form, you accept the Mollom privacy policy.

Comments on: "Renovation Boom Has Homeowners Taking Out More HELOCs"

July 2017

This Month in Professional Builder

Products
Features

Ashton Woods launched Starlight Homes to target entry-level home...

Overlay Init