Hello.
According to research cited by the Wall Street Journal, the total
dollar value of home equity loans taken out in 2004 was $431.3
billion.
See:
"Overall, home-equity originations climbed 35 percent last year [2004]
to a record $431.3 billion, according to SMR Research Corp., a
market-research firm in Hackettstown, N.J."
Source:
"Equity loans flying as high as property values"
By Ruth Simon
Wall Street Journal
Published January 30, 2005
http://www.chicagotribune.com/classified/realestate/financing/chi-0501300077jan30,0,5676369.story?coll=chi-classifiedfinancing-hed
Also see:
" Low mortgage-interest rates made 2004 another big year for
refinancing, and home-equity borrowing in the United States reached a
record high.
Americans took out $431.3 billion of home-equity loans and lines of
credit, according to SMR Research, a market-research firm in New
Jersey. That's up 35 percent from 2003."
source: Seattle Times
http://seattletimes.nwsource.com/html/businesstechnology/2002205825_pftaxsnags13.html?syndication=rss
Also see:
"Mainstream home-equity lending soared 33% last year according to SMR
Research, with new borrowing at nearly quadruple the level of just
five years ago...
...
Home-equity lending skyrockets
2004 1999 Increase
New borrowing $431 billion $114 billion 278%
Total owed $719 billion $267 billion 169%
Source: SMR Research"
from MoneyCentral:
http://moneycentral.msn.com/content/Banking/Homefinancing/P107768.asp
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search strategy:
"took out * billion in home equity
I hope this helps. |
