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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: Ramsey Su who wrote (24988)	1/20/2005 1:15:26 AM
From: ild	Read Replies (1) of 110194

Home-Equity Loans Hit Record Levels Lenders Use Incentives, Discounts to Entice Homeowners; Free Maid Service for Six Months By RUTH SIMON Staff Reporter of THE WALL STREET JOURNAL January 20, 2005; Page D1 Taking advantage of rising property values, record numbers of homeowners are turning to home-equity loans as a source of easy cash. Overall, home-equity originations climbed 35% last year to a record $431.3 billion, according to SMR Research Corp., a market-research firm in Hackettstown, N.J. Most of the growth has been in variable-rate lines of credit that are tied to the prime rate, currently 5.25%. Countrywide Financial Corp. originated $30.9 billion in home-equity loans last year, a 71% increase. In a conference call Tuesday, Wells Fargo & Co. said its home-equity volume jumped 45% last year. more... online.wsj.com

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