With the high prices in the nine-county Bay Area, more homeowners are taking advantage of available credit, according to a new report. On a year-over-year basis in June, there was a 16 percent increase in loans to $33 billion from the 71 credit unions headquartered in the Bay Area, according to the California Credit Union League.
- In the entire nine-county Bay Area, 83 percent of the total 1.03 million mortgages had a minimum 20 percent equity as of June of this year.
- There was a 16 percent increase in loans to $33 billion as of June 30, 2016, a 78 percent increase since the post-recession low in 2010.
The premier event for luxury agents and brokers
Luxury Connect | Oct. 16-18 | Beverly Hills