California Home Equity Loan Trends

The home equity loan trends in California are very reflective of the overall success of home equity as an industry in the United States. The market is becoming very ideal as more and more lenders are lowering their interest rates, and more and more people are availing of home equity loans.

The home equity lending business in California is booming. In fact, in 2004, more than one million people (1,199,829 to be exact) availed of the loan. The trend is especially popular in the Orange County area, where more than 120,000 individuals took advantage of the low interest rates and liberal approval. California home equity lending companies lent a total of $129.8 billion during the year averaging a little over little over $108,000 per loan.

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