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Article: Auto Club Offers Tips for Choosing a Home Equity Loan.
- Article from:
- Business Wire
- Article date:
- April 16, 1999
CopyrightCOPYRIGHT 1999 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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LOS ANGELES--(BUSINESS WIRE)--April 16, 1999--
Increasing numbers of consumers are taking advantage of today's low-interest rates and using home equity loans and lines of credit to pay for spring remodeling, tuition, debt consolidation and virtually any other major expenses, according to the Automobile Club of Southern California.
The current low-interest rate climate has helped to boost home-equity borrowing with the volume of home equity loans at large commercial banks jumping 62 percent from $42 billion in 1990 to $68 billion in 1998, according to the Federal Reserve Board.
"One attraction of a home equity loan is the possibility that you ...