US Helocs rise after years of decline – research
Study by Kansas City Fed warns balances are outsized compared with debt consolidation
After almost a decade of decline, usage of home equity lines of credit (Helocs) in the US has increased over the past couple of years, according to research from the Federal Reserve Bank of Kansas City.
Authors Bethany Greene and Nicholas Sly say the increase may be the result of rising home values.
Their study claims households typically use Helocs to reduce other debts, including those from credit cards – though this does not appear to be the primary reason for the recent uptick in their usage.
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