Americans are tapping into the steadily growing equity of their homes at a rate not seen since the credit crisis nearly a decade ago. Originations for home equity loan products increased nearly 15 percent or more since last year, with the number of new credit lines at the highest level since the crisis, according to Equifax. Similarly, home valuations are on the rise. What does the market improvement suggest about borrower attitudes and resulting changes to the borrower experience?
Accenture surveyed more than 6,000 consumers in the United States and Canada in late 2015 to better understand their home equity loan buying behaviors, preferences and experiences—and implications for lenders.