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Home Equity Interest Rate Data Bleg:

I'm trying to find a historical data series for interest rates on home equity loans going back as far as possible. If anyone can point me to a reliable data series, I would appreciate it.

Ron Hardin (mail) (www):
The conditions on prepayment would be fairly significant, particularly in the 70s/80s inflation, so much as to render the interest rate itself fairly unimportant.

Just as whether Treasury bonds were callable or not affected their interest rate heavily when interest rates were high.
9.3.2006 10:44am
Zywicki (mail):
Ron, that's a good point. I'm looking for something simple--just a rough comparison of various interest rates versus changes in the federal funds rates (mortgages, car loans, credit card loans, etc.). So just a time series on home equity loan interest rates will get me what I need. So I would want the info you mention if I was doing something more complicated than the modest effort I'm undertaking.
9.3.2006 11:07am
Duke (mail) (www):
The best, and unquestionably the most reliable guide, is to follow the long term U.S.T-bond rate. All home mortgages are pegged to this rate. Your real problem will be the huge number of homes that are financed "off the books," through secondary lenders to poor quality credit risks, and the rates charged to people who put down large down payments, some of whom use the homes as hedges against other risky investments. Private lenders include insurance companies (I got a low interest loan through one) and Credit Unions.
9.3.2006 11:48am
Gary Leff (mail) (www):
Home Equity LINES OF CREDIT (rather than loans) are generally going to be tied prime rate (and will be adjustable as prime moves). If what you're looking for is something simple, maybe just use historical series on prime rate as a proxy?
9.3.2006 12:08pm
Dale C. Wyckoff (mail):
For general interest rate data you might try the St. Louis Fed's interest rate data. They provide a wide array of historic data, free and with e-mail notices as to when it's been updated. Specifically to Home Equity Loans, you might have a look at HSH Associates. They charge money, so I've never used their data and can't speak to its completness.
9.3.2006 12:15pm
Zywicki (mail):
Dale:
Wow, that St. Louis Fed data collection is terrific and quite easy to use and download too. I will definitely bookmark it. And thanks for the HSH pointer too. From what I can though, both only have data on first mortgages, not home equity loans or HELOCs.
9.3.2006 1:15pm
Dale C. Wyckoff (mail):
Todd,
Perhaps I should have given a better link. Toward the bottom of that page you'll see they offer HELOC data. You'll need to click through a couple of pages, three steps. Oddly, the page where you can order stuff isn't working. They have a "Contact Us" page where you can request information. Second choice is Survey Department. I'd try that.
9.3.2006 1:51pm