BY BRAD BECKETT ON MARCH 8, 2023
According to a recent report from ATTOM Data, HELOCs comprised 20.7% of all mortgages in Q4 2022 - nearly five times the 4.6% level from Q1 2021. The data, from their Q4 2022 U.S. Residential Property Mortgage Origination Report, also found that 1.52 million mortgages secured by residential property (1 to 4 units) were originated in the quarter. Click here to read more.
That figure was down 24% from Q3 2022, marking the seventh quarterly decrease in a row, and down 54% from Q4 2021.
“ATTOM’s Q4 2022 mortgage origination report stated that even home-equity lending dropped, by 16 percent in the last few months of 2022 – to a total of 313,973, following growth in five of the previous six quarters. The report mentioned the latest HELOC lending number was still up 31.8 percent from 238,164 in Q4 2021.”