Gianinazzi, VirginiaAparício, Maria Rita Almeida2026-03-102026-03-102025-01-132024-12-17http://hdl.handle.net/10362/201184The household portfolio comprises two crucial components: the largest liability, the mortgage, and the most significant equity, which is tied to the value of the house. Being able to manage both effectively is important for the household financial sustainability. This study attempts to understand the key factors that lead homeowners to withdraw equity or not from their houses in high-interest rate environment such as the period post COVID pandemic. The study provides evidence on how increasing interest rates and financial uncertainty reduce equity extraction, while greater household income increases it.engHome equity withdrawalmortgage equity withdrawalBorrower constraintsBorrower behaviorLoan refinancemaster thesis204131626