As housing prices rise, more households are tapping into home equity lines of credit. Residential property owners secured 393,602 HELOCs in the third quarter of this year, up 19 percent from the previous quarter and 12 percent from a year ago, according to ATTOM Data Solutions’
Q3 2017 U.S. Residential Property Loan Origination Report.
Among the 120 metro areas ATTOM Data Solutions analyzed for the report, the following had the largest year-over-year increases in HELOCs:
- Reno, Nev.: up 80 percent
- Fort Wayne, Ind.: up 74 percent
- Peoria, Ill.: up 46 percent
- Bremerton, Wash.: up 45 percent
- Dallas: up 43 percent
ATTOM Data Solutions also notes that 43 of the 120 metros saw a year-over-year decrease in HELOC loan originations, including:
- Houston: down 17 percent
- Atlanta: down 6 percent
- St. Louis: down 4 percent
- Miami: down 3 percent
- San Francisco: down 1 percent
Among overall loan originations, the metros with the largest increase in purchase loans were:
- Raleigh, N.C.: up 55 percent
- New York: up 39 percent
- Roanoke, Va.: up 39 percent
- Honolulu: up 38 percent
- Little Rock, Ark.: up 34 percent
Source: ATTOM Data Solutions
