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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https://www.kansascityfed.org/denver/rocky-mountain-economist/more-households-are-tapping-into-their-home-equity-after-rapid-home-value-appreciation/
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Provider: Federal Reserve Bank of Kansas City
Part of Series: Rocky Mountain Economist
Publication Date: 2024-07-18