| HELOCs Have Grown Faster Than Credit Cards | |||
| Year | Annual Growth of Credit Card Loans at Commercial Banks (percent) |
Annual Growth of HELOCs at Commercial Banks (percent) |
Credit Card Interest Rates (percent) |
| 2001 | 11.62 |
20.75 |
14.89 |
| 2002 | 14.35 |
39.26 |
13.43 |
| 2003 | 11.42 |
32.50 |
12.74 |
| 2004 | 8.45 |
40.20 |
12.71 |
| 2005 | -3.86 |
8.10 |
12.51 |
| Note: HELOCs = home equity lines of credit. Credit card growth includes growth in credit card loans held by banks, securitized credit card loans, and credit card loans that were sold but are serviced by banks. | |||
| Sources: Federal Deposit Insurance Corporation, Federal Reserve (via Haver Analytics). | |||