3 smart home equity borrowing moves to make this November

Homeowners are encouraged to strategically consider home equity borrowing options, such as home equity loans and HELOCs, especially given the current favorable interest rates compared to credit cards and personal loans. However, risks exist, including the potential loss of the home if repayments fail. Key recommendations include carefully weighing loan options, not assuming rates will continue to fall, and using equity for beneficial purposes like debt repayment or home improvements rather than holiday spending. This approach can enhance financial health both now and in the future.