Wouldn't it be nice to hear some positive economic news? I was happy to see this post on Equifax's credit blog today about positive signs from the 2011 credit market.
Their credit experts see an upturn in the health of credit markets in the new year. Why? They say lenders have scrubbed their portfolios of bad loans, and borrowers have cleared their portfolios of loans that might have soured.
Secondly, originations are up almost everywhere. Even the unthinkable is happening, as the number of home equity lines was higher year-over-year in October 2010—a first since 2006, when they started tracking originations. New auto loans are leading the way and are well off the lows of last year, with auto credit more than 17 percent higher this year than last year.
If you'd like to read more of the good news, check out the full post on the Equifax blog at http://credit.equifax.com/2011/02/economy-2011-credit-patterns-show-signs.html.
Ilyce Glink is the author of several books, including 100 Questions Every First-Time Home Buyer Should Ask and Buy, Close, Move In!. She blogs about money and real estate at ThinkGlink.com, The Equifax Personal Finance Blog and CBS Moneywatch She is Chief Content Strategist at RealtyJoin.com, a community for real estate investor