Many homeowners are locked into historically low interest rates post-pandemic, leading them to retain low rates and opt for HELOCs as a financing option to leverage their equity.
With high interest rates dissuading homeowners from refinancing, the focus has shifted to HELOCs as a preferred method to access home equity while keeping existing low mortgage rates.
HELOCs have seen increased demand due to the stagnant refinancing market, offering originators an opportunity to provide financing solutions and tap into the growing trend.
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