The Equity Effect: How Homeowners Use Gains to Upsize, Invest, or Refinance
If you own a home in Westchester County chances are you’re sitting on a historic amount of equity. Since 1995, New York property values have surged by an incredible 284%, and in Westchester County, values jumped more than 30.8% just since March 2020. According to the June 2025 Mortgage Monitor from ICE Mortgage Technology, U.S. homeowners are accessing their equity at the highest levels since 2008. Here’s where that equity might be going:
-
Helping Families Buy Homes: Bank of America reports that 49% of Gen Z buyers received help from family.
-
Home Improvements: Many homeowners are choosing to renovate rather than move due to high rates.
-
Debt Consolidation: With HELOC rates under 7.5%, many are consolidating high-interest debt into lower-cost payments.
-
Building Wealth Through Investment: Some are using equity to invest in second homes or rentals while rates stay steady.
-
Multigenerational Living Upgrades: As more extended families share a home, homeowners are using equity to create additional living space.
Ralph’s Take
The uptick in homeowners tapping into their equity is largely driven by declining borrowing costs. The average monthly payment to borrow $50,000 via a home equity line of credit (HELOC) dropped from $412 in early 2024 to $311 by the end of Q1 2025. With projections pointing to mortgage rates falling into the mid-6% range by 2026, tapping into home equity is becoming noticeably more affordable.
Enjoy this blog post? Click here to subscribe for updates
Leave A Comment