Reported 1 day ago
In recent home equity news, HELOC rates have surged above 8%, though home equity loans remain steady. The average mortgage rate for a 30-year fixed loan also ticked up to 6.88%. This increase in HELOC balances suggests homeowners are increasingly leveraging their home equity, while multigenerational living arrangements are on the rise in the U.S. Many financial experts discuss the timing and methods for accessing home equity, emphasizing that it may be more beneficial to borrow now than in previous years.
Source: YAHOO