Tag Archives: HELOC

HELOC volumes are surging as refinances fall: TransUnion

As mortgage rates rise, consumers are pivoting away from cash-out refinances and toward HELOCs, a shift that many lenders are looking to take advantage of going forward.  TransUnion reported the volume of new home-equity lines of credit increased in the fourth quarter of 2021 by 31% year over year, from 212,303 to 278,230. Home-equity loan […]

Why HELOC demand will surge

Between February 2020 and January 2022, we witnessed something in the mortgage industry that we thought we’d never see — 30-year fixed-rate mortgages under 3.5%. These rates drew a record number of people refinancing their homes, with cash out refinances reaching $1.2 trillion in 2021. Then, in what felt like an instant, in Q1 2022 mortgage rates […]