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

Bethany Greene and Nicholas Sly

Rocky Mountain Economist, 2024

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 (search for similar items in EconPapers)
Date: 2024
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