In recent months, interest rates have risen to their highest level in years as the Federal Reserve has embarked on an aggressive tightening campaign in an effort to fight inflation. Despite rising rates, demand for home equity lines of credit (HELOCs) continues to surge with 2022 origination levels up more than 40% from a year ago, according to data from Citizens.
Undoubtedly, HELOCs have always been a compelling value proposition for the consumer, providing the convenience to fund home improvements and other major purchases at low rates with flexible repayment terms. Nevertheless, details ⇒
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