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Banks Saw More Home Equity Loans Overdue in Third Quarter '08.
Washington-The delinquency rate on home-equity lines of credit reached its highest level ever in the American Bankers Association's third-quarter 2008 consumer credit delinquency bulletin.
The HELOC overdue rate rose seven basis points from the second quarter to 1.15% in the third, according to the ABA. The percentage of closed-end home-equity loans that were past due rose to 2.63% from 2.56% in the previous quarter.
The delinquency rates on property improvement and mobile home loans also increased during the third quarter.
ABA chief economist James Chessen said that the data is further evidence that consumers are under financial stress, noting that economists are projecting job losses totaling 2.5 million for the year. He predicts that ...
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...rate on closed-end home-equity loans rose 29 basis points to 2.28% during the third...the overdue rate rose seven basis points to 0.84% during the third...improvement loans rose 14 basis points to 1.6%. The delinquency...
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...rate on closed-end home-equity loans rose 29 basis points to 2.28% during the third...the overdue rate rose seven basis points to 0.84% during the third...improvement loans rose 14 basis points to 1.6%. The delinquency...
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...that 2.5% of closed-end home equity loans were delinquent at the end of last year, down two basis points from the third quarter. The delinquency...delinquency rate on closed-end home equity loans exceeds the delinquency rate on...
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...bargain rates on home- equity loans, or what used to be...consumer finance, home-equity loans were given a boost...these bills rose 88 basis points (hundredths of a percentage...convinced that home-equity loans will continue to rise...
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...Securities backed by home-equity loans (HELBSs) are one...market. As home-equity loans (HELs) have proliferated...The term "home-equity loans" really is a misnomer...average roughly 400 basis points higher than those of...
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- Newspaper article from: Asset Securitization Report Pyburn, Allison June 12, 2006 700+ words
...things can get." Home equity loans are expected to be the first...recently pegged at three basis points over Libor, seven basis points lower than both the 12...have widened by some 20 basis points from a 12-month tight...
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...including non-prime credit cards, autos and home-equity loans, would be the first to deteriorate as the economy...pickup from other CDO types is likely between 15 basis points and 35 basis points on the triple-As. Utilizing market-value...