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Should homeowners tap equity to pay off costly debt? Weigh these pros and cons
Confirmed
That said, the same economy that has made credit card debt so costly has also created an opportunity for homeowners on the other side of the balance sheet. Here's what to weigh beforehand: One of the most compelling arguments for tapping equity is the rate differential.
Borrowers' credit card balances climbed to $1.26 trillion in the second quarter of 2026, according to Federal Reserve Bank of New York data, and that occurred at a time when the average rate on accounts accruing interest remains above 22%.
“Evolutionarily, if we look at our roots, a lot of people want to seek partners who have comparable or higher socioeconomic or physical status,” Vass said. “In the Hollywood world, [celebrities] date each other, but this makes so much more sense because in a relationship, opposites attract,” Bronstein said.
“It’s a different field, but the outcome in terms of status and perks are similar, so maybe there’s that to bond over,” said Vass. He’s ambitious, competitive and, according to the stereotype, more interested in closing deals than opening up about his feelings.
This can be especially alluring if those traits are in direct contrast to the ones they found in past relationships.
What's confirmed
- That said, the same economy that has made credit card debt so costly has also created an opportunity for homeowners on the other side of the balance sheet.
- Borrowers' credit card balances climbed to $1.26 trillion in the second quarter of 2026, according to Federal Reserve Bank of New York data, and that occurred at a time when the average rate on accounts accruing interest
- “Evolutionarily, if we look at our roots, a lot of people want to seek partners who have comparable or higher socioeconomic or physical status,” Vass said.
- “It’s a different field, but the outcome in terms of status and perks are similar, so maybe there’s that to bond over,” said Vass.
- This can be especially alluring if those traits are in direct contrast to the ones they found in past relationships.
What's still developing
- Borrowers' credit card balances climbed to $1.26 trillion in the second quarter of 2026, according to Federal Reserve Bank of New York data, and that occurred at a time when the average rate on accounts accruing…
- That said, the same economy that has made credit card debt so costly has also created an opportunity for homeowners on the other side of the balance sheet.
- Here's what to weigh beforehand: One of the most compelling arguments for tapping equity is the rate differential.
- He’s ambitious, competitive and, according to the stereotype, more interested in closing deals than opening up about his feelings.
- “In the Hollywood world, [celebrities] date each other, but this makes so much more sense because in a relationship, opposites attract,” Bronstein said.
- This can be especially alluring if those traits are in direct contrast to the ones they found in past relationships.
- “It’s a different field, but the outcome in terms of status and perks are similar, so maybe there’s that to bond over,” said Vass .
- “Evolutionarily, if we look at our roots, a lot of people want to seek partners who have comparable or higher socioeconomic or physical status,” Vass said.