patrick.net

http://www.washingtonpost.com/realestate/second-mortgages-rebound-as-banks-confidence-in-housing-market-seems-to-grow/2012/10/11/4e5f3de8-1164-11e2-ba83-a7a396e6b2a7_story.html?source=Patrick.net

Researchers at Equifax, one of the three national credit bureaus, say total outstanding balances of residential second mortgages at banks rose in the latest month for the first time in nearly five years. Though the jump was relatively small — about three-tenths of 1 percent — analysts say any increase in the amount of second mortgages is a bellwether event, indicating that major lenders are showing growing confidence that the real estate market has finally made the turn to recovery. The Federal Reserve recently reported that American homeowners’ equity stakes rose by $406 billion during the second quarter — a...

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