💨 Abstract

homeowners are holding a record $34.5 trillion in home equity, with a 7.2% increase in home equity loan originations over the past year. The average loan size varies by state, with Maryland at $168,000 and Virginia at $123,000. These loans, which have higher interest rates and require significant paperwork, are increasingly sought for debt consolidation, not just home renovations.

Courtesy: Jeff Clabaugh