Journal Article

More Households Are Tapping into Their Home Equity After Rapid Home Value Appreciation


Abstract: The use of home equity lines of credit (HELOCs) grew over the last two years after nearly a decade of declining balances. Relatively more households opened and used HELOCs in states that experienced faster home value growth. Once tapped, households typically use HELOC funds to engage in some targeted debt consolidation that could help them manage their household balance sheets.

Keywords: Home equity lines of credit; debt; home values;

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Bibliographic Information

Provider: Federal Reserve Bank of Kansas City

Part of Series: Rocky Mountain Economist

Publication Date: 2024-07-18