Homeowners tap equity as HELOC balances post biggest jump since 2005: New York Fed report

Homeowners tapped their home equity lines of credit in the third quarter at the highest rate in more than two decades, according to a new Federal Reserve Bank of New York report on household debt released Tuesday. Balances on HELOCs jumped by $23 billion during the three months ending Sept. 30, the largest increase since 2005.