Despite the current affordability headwinds, there has been an increase in both pending and existing-home sales activity. Homeowners are making trades with housing equity gains, offsetting higher mortgage rates.Â
Home values are hovering at near record highs. For many homeowners, their home is their most valuable asset and home equity can be a significant source of their wealth.
Homeowners can leverage the value of their home, such as in the form of a home equity loan and home equity lines of credit (HELOC). They…