​Homeowners Increasingly Tap Home Equity Lines As Savings Rate Plummets – Tyler Durden

Homeowners Increasingly Tap Home Equity Lines As Savings Rate Plummets With home values at or near record highs nationwide, and savings rates plunging, Americans are increasingly tapping into home equity. While some are using it for home renovations, others likely need extra cash amid the Bidenomics blowback, which has created an environment of elevated inflation and high interest rates. A new report released by the Federal Reserve Bank of New York’s Quarterly Report on Household Debt and Credit on Tuesday shows originations of both home equity loans and home equity lines of credit (HELOCs) balances increased by $4 billion, representing the ninth…  — Continue at ZeroHedge News : Read More