MBA: Home Equity Lending Volume Stays Relatively Flat in 2023; Debt Outstanding Increases
Total originations of open-ended Home Equity Lines of Credit (HELOCs) and closed-end home equity loans increased in 2023 by 1.5% compared to the previous year, while debt outstandings increased 8.3%.
Down Payment Resource: Homebuyer Assistance Programs Increase to Highest Count on Record
Down Payment Resource, Atlanta, released its Q2 Homeownership Program Index report, finding that the number of national homebuyer assistance programs has reached the highest count on record--2,415.
Bankrate: Mortgage Lock-In Effect Unlikely to Ease Soon
Nearly half of current homeowners say mortgage rates need to be below 5% for them to be comfortable purchasing a new home, while 38% say they need rates to be below 4%, according to Bankrate, Charlotte, N.C.
