The news: After a five-year hiatus, JPMorgan Chase will once again offer HELOC loans, per Banking Dive.

The bank halted its offering during the pandemic when interest rates were extremely low. Record home values and customer demand have now paved the way for a relaunch, per Mortgage Note.

How we got here: Demand for HELOCs is high because homeowners want more options to access the record amount of equity they've built up, a Chase executive told Banking Dive. Home equity can be used for things like home renovations or debt consolidation without changing the interest rate on the existing mortgage. As of Q2, an estimated 48 million homeowners had tappable equity, with $213,000 in accessible equity for the average homeowner, per Mortgage Technology.

Why this matters: HELOCs tend to be a more flexible type of loan and often don’t have minimum loan requirements, per Mortgage Note. In a period when many customers are in need of fast, flexible cash, HELOC loans can help banks deliver.

Not all banks that offered HELOCs pre-pandemic have relaunched them. But they should consider it: Banking customers are likely to continue feeling uncertainty about the economy and their financial futures in the medium term, and financial institutions that offer easier cash access to homeowners will reap more profits and customer satisfaction.