Vahe Hayrapetian Weighs in on Historic Home Loan Trends

PHILADELPHIA, PA, December 19, 2012

According to the Reynolds Center for Business Journalism, mortgage rates are still close to their historic low points; at the time of the report, rates were as low as 3.31 percent for a conventional 30-year loan, and 2.65 percent for 15 years. At the same time, home sales are on the rise, and new construction is also picking up steam--all of which points toward the fact that low home mortgage rates may in fact be driving increased home loan activity and spurring increased consumer spending. The Reynolds Center report has won the attention of Vahe Hayrapetian, a veteran of the home loan industry. Vahe Hayrapetian has weighed in with a statement to the press, commenting on recent home mortgage trends.

"What all of these economic signifiers suggest is, quite simply, that the economy is improving, and that home loans are at the center of it all," says Hayrapetian, in his new press statement. "Indeed, these home mortgage trends might be seen as precursors to a much-needed increase in consumer spending; for example, next year, home equity lines of credit are set to hit the $104 billion mark, which is good news for all of us, because it is that much more money that consumers will have to make home improvements and retail purchases, or simply to keep up with their current bills and payments."

Vahe Hayrapetian is currently the Sales Manager for Skyline Home Loans, based in Glendale, California, but his experience in the mortgage business goes back for many years. Before he came to Skyline, Mr. Hayrapetian also held prominent managerial positions at Bank of America, and at GMAC Mortgage.

Vahe Hayrapetian goes on to say that shifting attitudes toward home equity loans go a long way toward showing just how far the economy has come in recent years. "There was a time when many economists were saying that these home equity loans were effectively ways for consumers to use their homes as ATMs, something this article notes," he remarks. "Nowadays, though, loan activity is seen not as a handicap, but as a tremendous boon."

Continues Vahe Hayrapetian, "Home loan activity is spurring consumer spending, plain and simple. Whether homeowners are making capital improvements, spending money in retail shopping locations, or simply squaring up with their bills, the basic fact is that they are spending money, and that is an unequivocally good sign for the economy."

The Reynolds Center article, meanwhile, reports that home equity lines of credit will jump to $80 billion this year, following some six years of decline. The reversal of this trend has generated enthusiasm among many economists, as well as mortgage professionals like Vahe Hayrapetian.

ABOUT:

Vahe Hayrapetian is a sales professional with an impressive career history, focused primarily on financial services and home loan companies. Presently, Hayrapetian is the Sales Manager of Skyline Home Loans, based in Glendale, California; previous positions include management roles at Bank of America, GMAC Mortgage, and more. Outside the office, Mr. Hayrapetian is an enthusiastic supporter of FCN, a non-profit organization that seeks to enrich the lives of poor Armenian children.

Website: http://vahehayrapetian.com