by Christy Bieber
CBS News
Borrowing against the equity in your home has long been an affordable way to access funds. However, home equity loans and home equity lines of credit (HELOCs) became more expensive over the past several years as inflation surged in the post-pandemic era.
As inflation began to cool in 2024, those hoping to get a loan against their equity saw signs of potential relief in the interest rate forecast. Unfortunately, this was short-lived as inflation began to tick back up and home equity and HELOC loan rates once again began to climb.
With inflation rising slightly in October, many homeowners are left wondering if a HELOC makes sense during these turbulent economic times — especially since, unlike a home equity loan, HELOCs have variable interest rates.