Rocket Mortgage Launches Home Equity Loans to Address $1.263T Debt

Rocket Mortgage has initiated a national advertising campaign promoting home equity loans as a means for consumers to eliminate high credit card debt. U.S. credit card balances reached $1.263 trillion in Q2 2026, increasing from $1.242 trillion at the start of the year. The average homeowner in 2026 possesses about $310,500 in home equity, which they may use to reduce high-interest credit card debt averaging 23.80%. This strategy raises concerns as it shifts unsecured debt to secured debt, involving the homeowner's property as collateral. Investors should note the implications of consumer debt trends on housing market dynamics and interest rates.