With inflation holding tight, it's important to consider how these conditions might impact your home equity options.
While inflation has cooled significantly compared to this time last year, it appears that the Fed's benchmark rate hikes over the last year haven't fully tempered it just yet. Annual consumer inflation remained unchanged in September from the 3.7% increase in August, according to the most recent inflation report from the Labor Department — which isn't great news for borrowers.
Increased home valuesDuring periods of heightened or stubborn inflation, the value of homes tends to increase. This phenomenon is primarily a result of the general rise in prices and overall economic conditions. As consumer prices surge, so does the nominal value of real estate properties. This increase in property values is beneficial for homeowners who are considering tapping into their home equity.
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