What are the ways homeowners are utilizing their HELOCs?
Recently, there has been a slowdown in HELOC activity after reaching a 15-year high in 2022. The Mortgage Bankers Association has provided data on how HELOCs have been utilized over the years. Home renovation and remodeling remain the primary reasons for utilizing HELOCs, followed by debt consolidation, emergencies, and other big-ticket financing. The MBA’s 2023 […]
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