July 8, 2010 |
A leading bank trade group said Americans are making headway in cleaning up their finances, with borrowers missing fewer payments on credit cards and other consumer loans in the first three months of the year — the third straight quarterly decline. Delinquency rates also fell for home equity loans and credit lines in the first quarter, according to an analysis released Wednesday by the American Bankers Assn. It was the first quarter that home equity loan delinquencies had fallen in two years, an encouraging sign, said James Chessen, chief economist for the banking trade group.
January 8, 2010 |
Delinquencies on home equity loans and lines of credit jumped to record levels in the third quarter, a banking trade group said Thursday. Home equity loan delinquencies rose to a record 4.3% of such accounts from 4.01% in the second quarter, the American Bankers Assn. reported. Delinquencies on home equity lines of credit also hit a record, climbing to 2.12% from 1.92%. The troubles with housing debt contrasted with an improvement seen with other consumer loans, the bankers group said.
November 15, 2009
Weekly survey of 20 Orange and L.A. County lenders as of 11/11/2009 Compiled by HSH Associates, Financial Publishers; www.hsh.com -- Loans to $417,000 Week ended Week ended Week ended 11/11/2009 11/4/2009 5/13/2009 30-year fixed 5.05%+0.30pt 5.15%+0.29pt 4.99%+0.41pt 15-year fixed 4.60%+0.28pt 4.62%+0.33pt 4.73%+0.41pt $417,000 and up 30-year fixed 6.00%+0.50pt 5.96%+0.52pt 6.58%+0.85pt 15-year fixed 5.50%+0.33pt 5.53%+0.44pt 6.45%+0.98pt Home equity lines 5.81% 5.81% 5.19% Home equity loans 8.89% 8.89% 8.93% 6-month LIBOR 0.53% 0.56% 1.41% 1-year Treasury 0.36% 0.39% 0.53% 6-month Treasury 0.16% 0.17% 0.32% 6-month CD 0.31% 0.31% 1.24% Prime rate 3.25% 3.25% 3.25% 11th District 9/2009 8/2009 3/2009 cost of funds 1.272% 1.412% 1.627% --
November 2, 2009 |
Traditional 30-year mortgages these days are unusually affordable by historical standards, but if you're looking for a home equity line of credit, don't expect any deals. The market for such credit lines, which practically shut down as home prices tumbled, remains tight as a drum despite signs of life in the rest of the home loan market. And offers that let you pay only the prime rate or just above that benchmark are long gone. "The days of lenders falling all over themselves to help you empty the equity out of your home aren't coming back any time soon," said Keith Gumbinger, vice president at loan data tracker HSH Associates.