Home equity lending in 2023 grew by only 1.5% compared to the prior year, while outstanding debt increased by 8.3%. The pull-through rate dropped from 56% in 2022 to 48% in 2023.
Despite the slight volume growth, the study shows an uptick in home equity debt outstanding, with potential illustrated by increased home prices post-COVID. HELOC utilization rates grew last year.
[
Collection
]
[
|
...
]