So far, that hasn't had a chilling effect on applications.
After a pause, HELOCs could regain popularity if mortgage interest rates rise.
With mortgage rates around 3%, many of those who might benefit the most from refinancing and reducing their monthly payments aren’t able to.
Rising values have given homeowners a lot more equity, which they can tap for cash. They gained $1 trillion in the second quarter.
Many people may have already locked in ultra-low mortgage rates over the past year.
A new "adverse market fee" kicked in this week, despite declining interest rates.
The hassle isn't the only thing stopping them.
The Fannie Mae and Freddie Mac-backed "adverse market fee" drops on Sept. 1.
Mortgage finance company Freddie Mac says rates on 30-year fixed mortgages fell below 3% for the first time in 50 years.
But the uncertainty that's driving those rates down is causing some to have second thoughts.