Opinion: Navigating The HELOC And HELOAN Landscape In The Post-COVID Mortgage Market

By PARESH DESHPANDE The mortgage industry in the United States has always been known for its cyclical nature, characterized by fluctuating interest rates and varying economic conditions. Since the onset of the COVID-19 pandemic, the landscape has experienced significant shifts, with interest rates soaring to levels not seen in years. This environment has led to the increased popularity of Home Equity Lines of Credit (HELOCs) and Home Equity Loans (HELOANs) as viable financial options for many American homeowners. These instruments allow homeowners to tap into the equity they have built in their homes, but there are nuances and implications that both borrowers and lenders must navigate. The Rise of HELOCs and HELOANs As traditional mortgage rates have risen post-COVID, many…