{
  "id": 2813966,
  "title": "Rocket Mortgage pushes home equity loans to wipe out credit card debt — here's how that could backfire on homeowners",
  "url": "https://urgent.news/2026/08/23/rocket-mortgage-pushes-home-equity-loans-to-wipe-out-credit-card-debt",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-23T15:00:00.000Z",
  "source": {
    "name": "Yahoo Finance",
    "slug": "yahoo-finance",
    "url": "https://finance.yahoo.com/real-estate/articles/rocket-mortgage-pushes-home-equity-150000372.html"
  },
  "original_language": "en",
  "account": "Many Americans are turning to credit cards to cover bills due to rising costs, with U.S. credit card balances hitting $1.263 trillion in Q2 2026, according to Federal Reserve data. However, home equity loans and HELOCs typically offer lower interest rates than credit cards, which averaged 23.80% in August 2026. Rocket Mortgage recently launched a marketing campaign targeting homeowners who may be considering using their home equity to pay off high-interest credit card debt. The average home equity loan interest rate was 8.10% as of August, while the average HELOC rate was 7.31%. While home equity loans and HELOCs can help homeowners reduce their overall debt burden, they also carry risks. If a borrower defaults on a home equity loan or HELOC, they could lose their home. Thus, homeowners should carefully consider their ability to repay the loan before pursuing this option.",
  "summary": null,
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}