Further Proof of Economic Recovery

For the first time since November 2007, home equity installment balances rose 0.3%. This may indicate a new chapter for the mortgage industry. According to Equifax's latest National Consumer Credit Trends Report the total number of loans fell by 43% over the past four years and home equity installment balances fell by 49%. However, residential real estate is beginning to stabilize and mortgage debts and delinquencies are declining in number. Mortgage rates themselves are setting new record lows nearly every week! All of these individual pieces are combining to create a new and improved economy; one that is working hard to recover.

Posted in: economic recovery,equifax,home equity installment,mortgage