The economy is not slowing down (even with the weaker Q4 print). Inflation is not slowing down. The Fed won’t cut rates in this environment. While mortgage rates will stay elevated, housing will be supported by low inventory. We aren’t going back to the cash out refi boom of Covid but should continue seeing record home equity tapped via HELOC/seconds.
HELOC draw period refers to the time during which you can withdraw funds from your home equity line of credit. Understand exactly how it works in this guide.
HELOC repayment is the period when you pay back the balance of your home equity line of credit. Learn what it is, how it works, and how to manage your payments effectively.
