HousingWire Daily MeridianLink’s JP Kelly on the tipping point for home equity
May 8, 2025
JP Kelly, Senior VP of Mortgage at MeridianLink and expert in mortgage technology, shares insights into the evolving landscape of home equity. He discusses the rising interest in HELOCs and emphasizes the importance of educating borrowers. Kelly highlights innovations in lending technology that streamline applications and enhance efficiency. He also addresses the challenges posed by shifting home inventory and regulatory compliance, underscoring the need for data-driven approaches in today's market.
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Home Equity Gains Traction
- Home equity is gaining interest as home values remain steady and continue to rise.
- MeridianLink survey shows HELOC interest increased from 21% to 28% in 12 months.
Home Equity vs Credit Card Debt
- Consumers face rising credit card debts and renewed student loan payments.
- Home equity loans offer a better alternative with lower interest rates than credit cards.
Growing HELOC Awareness
- Awareness of HELOC benefits is growing rapidly among borrowers.
- Comfort with HELOC knowledge rose from 41% to over 50% in the past year.