U.S. homeowners hold about $11 trillion in tappable home equity, but most of it remains unused. A new Home Equity Gap Index ranks states by equity availability versus HELOC usage, revealing large disparities. Texas ranks highest for untapped equity due to strict constitutional limits on HELOCs, while Utah leads in HELOC activity. Younger homeowners use HELOCs more, often for debt consolidation, benefiting from lower rates compared to credit cards.
Continue to full article