Maximizing Home Equity: A Smart Move Before 2024

With the current economic climate and potential future rate hikes, it is advisable to tap into your home equity before 2024. By accessing your home's equity now, you can lock in today's interest rates and potentially refinance later. This can help pay off high-interest credit card debt, increase earning potential, fund home repairs or renovations (with potential tax benefits), and provide extra cash for the holidays. Data suggests that inflation is still a concern, which could lead to higher borrowing costs in the future.