US housing asset loans increase by $23 billion... largest quarterly increase since 2005
Original headline미 주택자산 대출 230억달러 증가…2005년 이후 최대 분기 증가폭
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U.S. home equity line of credit (HELOC) balances rose by $23 billion in the third quarter, the largest quarterly increase since 2005, according to the New York Fed’s household debt and credit report. Outstanding HELOC balances reached $481 billion at the end of September, marking an 18th consecutive quarter of growth. The $23 billion figure reflects the net change in outstanding balances, not gross new originations, and available credit lines also expanded during the quarter. The acceleration matters because it signals homeowners are increasingly tapping home equity as a revolving credit source, a trend that bears watching for household leverage and consumer credit conditions in coming quarters.
Muhabbit's AI wrote this summary in its own words from TokenPost's report and translated it from Korean. It can get details wrong, so check the source.
Named in this story
HELOC, Federal Reserve Bank of New York