Refi boom is over, but home equity demand could pick up slack
January 30, 2017, 2:12 PM
The mortgage refinancing boom may be over, but it’s not all bad news for home lenders.
Thanks to a confluence of factors, many banks and credit unions are predicting a surge in originations of both home equity loans and home equity lines of credit in 2017. Regional bank companies PNC Financial Services Group in Pittsburgh and Zions Bancorp. in Salt Lake City both said that recently that they expect income from home equity lending to increase this year.