More Millennials Turn to Their Home’s Equity – According to a new survey commissioned by Discover Home Equity Loans, older millennials (ages 30 to 34) are twice as likely as baby boomers to take out a home equity loan. Of the 64 percent of older millennials surveyed who own a home, 51 percent have used a home equity loan compared to 26 percent of baby boomer home owners, the survey revealed.
What does this mean for you?
With rates holding at near historic lows, now is a great opportunity to look into Refinancing options. Cash out Refi’s at fixed rates may be a better option than HELOCs at a variable rate. We’ve been closing our Refi files in under 30 days and make it an easy process to tap into the value of your home. Call us for a mortgage check up. At the very least, you’ll enjoy speaking with us!