Home equity loan rates are on a noticeable decline, providing new borrowing opportunities for owners. sommart/Getty Images

With concerns over inflation , unemployment and the ramifications of the ongoing government shutdown, homeowners may understandably want to limit any rash moves and avoid borrowing money right now. But the reality is that these factors are making it difficult to make ends meet, and, right now, home equity levels are robust in many parts of the country.

Home equity loan interest rates are also pretty low, too.

With an average rate of just 8.11% on a 5-year home equity loan, rates here are near their lowest level since 2023, according to newly released Bankrate data .

With your home functioning as collateral, however, owners must approach this poten

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