Home Equity Loans and HELOCs Gain Popularity Amid Favorable Rates

With interest rates expected to drop further, homeowners find appealing options in tapping into their equity.

Home equity loans and HELOCs offer competitive interest rates, making them attractive alternatives to other financing options.
Interest rates for home equity loans and HELOCs are predicted to fall further, enhancing their appeal to homeowners.
The average homeowner currently has about $299,000 in home equity, providing a significant resource for financial needs.
New home equity loan and HELOC products are targeting a broader range of borrowers, including business owners and investors.
Lenders are innovating with product features and underwriting standards to accommodate more consumers.