Recent developments in home equity lending

Glenn B. Canner, Thomas A. Durkin and Charles A. Luckett

Federal Reserve Bulletin, 1998, vol. 84, issue Apr, 241-251

Abstract: The equity that has accumulated in homes is one of the largest components of U.S. household wealth. In recent years, many homeowners have borrowed large amounts against that equity, frequently to finance new consumption expenditures or pay down outstanding consumer debt. In view of the growing importance of home equity credit in household finances, the Federal Reserve has for a number of years participated in nationwide surveys of the use of home equity loans. This article presents findings from a 1997 survey and from other sources of information on home equity lending.

Keywords: Home; equity; loans (search for similar items in EconPapers)
JEL-codes: G21 R20 (search for similar items in EconPapers)
Date: 1998
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Persistent link: https://EconPapers.repec.org/RePEc:fip:fedgrb:y:1998:i:apr:p:241-251:n:v.84no.4

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DOI: 10.17016/bulletin.1998.84-4

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