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Home improvement loans: growth opportunities and challenges

As mortgage rates begin ramping up in early 2022, leaving borrowers with virtually no incentive to refinance, a wave of nonbanks introduced home equity lines of credit, a popular funding source for home remodeling projects. HELOC originations also saw a surge at the same time. But with rates accelerating even higher over the past 12 months across all types of consumer loans, the enthusiasm surrounding HELOCs subsided.

The majority of HELOCs come with variable rate terms and are currently running at an average of close to 9%. Tied to the going prime rate, HELOC averages rise and fall with

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3 Home Improvement Stocks to Buy in February and Beyond

Due to evolving consumer preferences and rising consumer demand for refurbished homes, the home improvement industry is well-placed to remain buoyed. Therefore, quality home improvement stocks Builders FirstSource, Inc. (BLDR), JELD-WEN Holding, Inc. (JELD), and Snap-on Incorporated (SNA) could be wise portfolio additions for February and beyond.

The residential remodeling market is growing, driven by shifting consumer preferences and rising disposable income. Disposable personal income rose by $51.80 billion (0.3%) in December 2023.

The rapid change in consumer demographics, particularly due to the millennial and Gen Z populationhas significantly driven the demand for

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Home Depot’s Sales Fall as Consumers Hold Off on Renovations

The Home Depot missed Wall Street revenue expectations for the second quarter in a row.

The home improvement retailer on Tuesday (May 16) reported earnings that showed sales of $37.3 billion, down 4.2% year over year.

It marked the second time in as many quarters that the company came in below analysts’ expectations, as consumers put off big renovation projects and appliance purchases.

The revenue miss was also Home Depot’s largest in 20 years, CNBC reported. Chief Financial Officer Richard McPhail told the network the company had expected this year would be one of moderation following a wave of home

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Jericho Home Improvements owner’s death suspect released in Kansas City

Kansas City police have released a person of interest “pending further investigation” into the death of a popular Kansas City home remodeling company owner. John Bartrom, founder of Jericho Home Improvements, died after a shooting Sunday morning near 63rd and Prospect in Kansas City. Bartrom, 46, was known for his commercials and catchy jingles for his company. He was also well-known for his charitable service, according to friends and family members. KCPD Capt. Corey Carlisle confirmed the person of interest’s release but did not provide any other information on a motive, as the case is still under investigation. Officers say …

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