Living
US Homeowners Are Tapping $9 Trillion in Real Estate Wealth
Higher mortgage rates have made cash-out refinancing less attractive and pushed more people to take out home equity lines of credit.
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A couple in Austin is using the money to fix up a rental house they own and help pay for their three young kids to attend Montessori school. A cop in Florida is playing the stock market. Others just like knowing there’s cash available if an emergency expense pops up.
Welcome to the 2023 Heloc boom.