The refinance market may be all-but-dead for mortgage lenders, but not everyone is singing the blues. Home equity lenders, thanks to their specialized customer base, are still in a bubbly mood as the refi- driven market for home equity securitizations has surged through the first half of 1994.

Those HEL securitizations have soared through June, rocketing to more than $4.9 billion and setting a pace that would nearly double its 1993 output, which was roughly $5.75 billion. That dramatic rise is attributable to increased first lien refinance activity among finance companies, most of which have kept volume up despite the rise in interest rates.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.