Opinion: What is Future of Bank Originated HELOCs?

Home Equity Lending News, October 23, 2024–Vikram Gupta
There is no stopping the American consumer’s ongoing love affair with credit. Total consumer credit outstanding at the end of Q2 2024 was $17.8 trillion, 4% higher than a year earlier and almost 25% higher than Q2 2020 (just as the COVID pandemic was starting).

Within the credit options available to customers, mortgage remains king. The asset class has consistently averaged about 70% of all debt outstanding for the last two 20 years and all indications suggest that mortgages will continue being the single largest debt obligation for consumers for years to come.
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