HELOC Loan Balances Rise $13 Billion Nationwide as More Homeowners Tap Their Equity

The national balance of home equity lines of credit increased by $13 billion during the second quarter of 2026, according to a new report from the Federal Reserve Bank of New York.This marks the 17th consecutive quarter of increases for these flexible lines of credit, known as HELOCs, the report says.The figure comes from the New York Fed’s Quarterly Report on Household Debt and Credit, which provides information on the country’s mortgage, student, auto, and credit card debts—all of which add up to a skin-crawling $18.8 trillion in total household debt.While mortgage balances shown on consumer credit reports declined $74 billion during the second quarter, for a total of $13.1 trillion at the end of June—which the Fed noted is due to a reporting gap, otherwise the balance would have stayed flat—the amount that homeowners have taken out against their homes increased.The second quarter's $13 billion increase brought the outstanding HELOC balance to $459 billion—a dramatic increase from the low balance of $317 billion reached in the first quarter of 2022, according to the report.In the first quarter of 2026, the country’s HELOC balances rose by $12 billion, to a total $446 billion, the...