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You are very correct. HELOCs, however, are not as big a factor as they used to be. They will become more popular though. Wolf Richter shows some nice graphs in
by ghastmaster 4y ago
You are very correct. HELOCs, however, are not as big a factor as they used to be. They will become more popular though.
Wolf Richter shows some nice graphs in the article linked below. He states that mortgages in Q2 were $11.4T and HELOCs a mere $320B.
https://wolfstreet.com/2022/08/04/trip-back-to-reality-starts-mortgages-helocs-balances-delinquencies-foreclosures-in-q2/ https://wolfstreet.com/2022/08/04/trip-back-to-reality-start...
- bushbaba 4y agoLow rates meant that people could cash out refi at lower rates. Don’t forget there’s a small but still notable number of homeowners with ARM mortgages.