"But with ICE's Conforming 30-year Fixed Mortgage Rate Lock Index at 6.17% in late October the lowest rate in a year the cost to withdraw $50,000 in equity has fallen by more than $100 per month from recent highs. For homeowners using home equity lines of credit (HELOCs), rates have dropped from nearly 10% in early 2024 to the low-7% range as of Q3 2025, according to the report."
"Homeowners still have near-record amounts of tappable equity, and the cost to access that equity continues to improve, Andy Walden, head of mortgage and housing market research at ICE, said in a written statement. Lower rates are also reopening the refinance window. The number of borrowers who meet traditional credit requirements (+720 score) have at least 20% equity in their home while being able to save at least 75 basis points through a refi rose to 1.7 million the highest number since early 2022."
Annual home-price appreciation rose to 0.9% in October after nine months of slowing appreciation. ICE's Conforming 30-year Fixed Mortgage Rate Lock Index dropped to 6.17% in late October, reducing the monthly cost to withdraw $50,000 in equity by more than $100 from recent highs. HELOC rates fell from nearly 10% in early 2024 to the low-7% range by Q3 2025. Homeowners retain near-record tappable equity while access costs improve. The share of borrowers with 720+ credit and at least 20% equity who can save 75 basis points via refinancing reached 1.7 million, and 4.1 million borrowers are currently in the money to refinance, potentially rising to 5 million if rates fall to 6.125%. Refinancing and equity-tapping conditions are improving, creating opportunities for lenders and servicers to proactively support borrowers.
Read at www.housingwire.com
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