Three ways to turn home equity into cash, compared side by side on monthly payments, requirements and cost.
If you locked in a low rate, a cash-out refinance can mean giving it up. One alternative, and what it costs.
The average 30-year fixed rate rose to about 7.3% at the start of October, up roughly a quarter point in a week and close to a full point above a year earlier.
Hometap says its product is now offered in 27 states after adding Alabama, Kentucky, Nebraska, New Hampshire, New Mexico and Wisconsin.
The New York Fed's second-quarter report shows card debt up $21 billion and home equity line balances growing for another quarter.
ICE estimates about $11.7 trillion of that is tappable, roughly $212,000 for the average borrower, as annual home price growth picks up again.
The firm's eighth deal of its kind drew new institutional buyers, a sign that investor interest in home equity investments is maturing.
St. Louis Fed researchers track how rising rates pushed borrowers toward home equity lines so they could keep low fixed-rate first mortgages.
Home equity line balances rose again in the first quarter as more owners chose to renovate or reinvest rather than move.
Pandemic-era borrowers are holding on to ultra-low rates, keeping home sales and inventory near multi-decade lows.
Harvard's Joint Center for Housing Studies expects annual remodeling spending to grow at a slower but steady pace through 2026.
Stories in "Latest from around the web" are summaries written by Nadlan Projects; each links to the original publisher, which remains responsible for its content. Items marked Sponsored are paid content.