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American homeowners have accrued hundreds of thousands of dollars in home equity and they’re increasingly borrowing against that valuemknatal, even though interest rates remain high.

Home equity, the difference between your home’s value and what you owe on your mortgage, has ballooned as home prices have risen. American homeowners with mortgages have about $315,000 in home equity on average, or almost $129,000 more than they did at the onset of the coronavirus pandemic in 2020, according to CoreLogic, a property data firm.

The event was timed to the first anniversary of the White House Office of Gun Violence Prevention, which Mr. Biden created last year after signing the Bipartisan Safer Communities Act, the first major gun safety bill in nearly 30 years. It was also a chance for Mr. Biden to pass the baton to the official who heads that office: Vice President Kamala Harris, who is leaning into gun violence prevention as an issue as she campaigns to succeed Mr. Biden.

Mr. Cuomo, an exceedingly careful political tactician,mgbet cassino gave no immediate hints. As other prominent New York leaders pushed out statements and calls for Mr. Adams to resign, the former Democratic governor remained conspicuously mum.

“Homeowners are sitting on a mountain of equity,” said Greg McBride, the chief financial analyst at the finance site Bankrate.

Balances on home equity lines of credit, or HELOCs — a type of second mortgage that lets homeowners use their equity as collateral — are on the upswing, having risen 20 percent since 2021, according to a recent analysis by the Federal Reserve Bank of New York.

And earlier this month, CoreLogic reported that home equity loans — second mortgages with a fixed interest rate and set installment payments — surged in the first half of this year, perhaps because average rates on those loans have been lower than the rates on lines of credit.

Selma Hepp, the chief economist at CoreLogic, wrote in a report in September that the rise in home equity “has served as an important financial buffer in times of uncertainty.”

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