Cashed-out home equity may exceed growth in disposable income this year
| Period | Growth in home equity loans; Billions of Dollars | Cash-out re-financings and added debt through mortgage consolidation; Billions of dollars | Change in After-Tax Income; Billions of Dollars |
|---|---|---|---|
| 1994 | 12.8 | 29.2 | 239.9 |
| 1995 | 17.5 | 21.7 | 256.4 |
| 1996 | 31.4 | 34.5 | 280.2 |
| 1997 | 41.1 | 39.1 | 300.4 |
| 1998 | 29.3 | 72.4 | 407.1 |
| 1999 | 40.4 | 71.1 | 299.0 |
| 2000 | 90.3 | 60.4 | 499.1 |
| 2001 | 26.0 | 135.5 | 292.8 |
| 2002 | 65.5 | 170.5 | 343.2 |
| 2003 | 101.7 | 224.4 | 339.1 |
| 2004 | 201.3 | 182.0 | 495.1 |
| 2005 | 239.2 | 200.0 | 418.1 |
Source: Federal Reserve and Freddie Mac.
2005 is Freddie Mac forecast and equity and income estimates based on first half data.