Increased HELOC use could lead to higher insolvencies: Equifax [Investment Executive - News]
Equifax, Inc. (EFX)
Last equifax, inc. earnings: 4/20 05:24 pm
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Source: Investment Executive - News
The credit monitoring company’s most recent consumer trend report found new HELOC volume increased by 56.7% in Q2 when compared to the same quarter in 2020. Volume is at its highest in a decade. “The HELOC trend is worrisome as often the payments are tied to a variable interest rate,” said Rebecca Oakes, AVP of Advanced Analytics with Equifax Canada, in a Tuesday release. Driven by considerable mortgage growth, overall consumer debt hit $2.15 trillion, up 3% from last quarter and 7.5% from Q2 2020. New mortgage volume hit over 410,000, up 60.2% from the same period last year and the highest-ever volume increase in a single quarter. According to Oakes, another concerning trend is the amount of mortgage debt being taken by consumers with lower credit scores. While these consumers only amount to 10% of all new mortgages, due to soaring home prices their average loan amount has increased at the same rate as consumers with higher credit scores. Inflation hit 3.7% in July, the largest y
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News
- Equifax Inc. (NYSE:EFX) Q1 2024 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
- Equifax Inc. (NYSE: EFX) had its price target lowered by analysts at Oppenheimer Holdings Inc. from $291.00 to $272.00. They now have an "outperform" rating on the stock.MarketBeat
- Equifax Inc. (NYSE: EFX) had its price target lowered by analysts at The Goldman Sachs Group, Inc. from $276.00 to $241.00. They now have a "neutral" rating on the stock.MarketBeat
- Equifax Inc. (NYSE: EFX) had its price target lowered by analysts at JPMorgan Chase & Co. from $290.00 to $273.00. They now have an "overweight" rating on the stock.MarketBeat
- Equifax Inc. (NYSE: EFX) had its price target lowered by analysts at Robert W. Baird from $275.00 to $260.00. They now have an "outperform" rating on the stock.MarketBeat
EFX
Earnings
- 4/17/24 - Beat
EFX
Sec Filings
- 4/17/24 - Form 8-K
- 4/2/24 - Form 4
- 3/22/24 - Form ARS
- EFX's page on the SEC website