Will Federal Rate Cuts Affect Your HELOC APR?
Some borrowers mistakenly believe that federal rate cuts have a direct affect on their HELOC interest payments. In reality, federal rate cuts are a move by the government meant to promote economic...
View ArticleFed Cuts Interest Rates, Yet Again
Earlier today, the Federal Reserve slashed the federal funds interest rates by 3/4 of a percentage point. This has been the 6th rate cut in the past 6 months. The New York Times Reports: “Though it was...
View ArticleHow Far Have HELOC Rates Fallen?
According to the Wall Street Journal, home equity rates have been falling steadily for the past 6 months and may fall further based on yesterday’s federal rate cuts: Rates on home-equity lines of...
View ArticleFederal Cuts Lower HELOC Rates
According to MarketWatch, the recent federal cuts have resulted in lower rates for HELOC customers. Financial columnist Chuck Jaffe notes that home equity lines are the one place that consumers are...
View ArticleFeds Cut Interest Rates Again
Earlier today the Federal Reserve cut the federal funds rate a quarter of a point, from 2.25 to 2. The prime rate, used to determine the majority of HELOC interest rates, generally mimics the federal...
View ArticleHome Equity Lines as a Refinance Alternative
Interest on home equity lines of credit are extremely low right now, even when compared to traditional home loans. Some financial advisers say that borrowers should consider taking out a HELOC rather...
View ArticleWill There be a Home Equity Line Rate Cut?
Home equity line customers may soon be enjoying a decreased interest rate, if market rumors come to fruition. The Associated Press reports: “Many believe the Fed will ratchet down a key lending rate to...
View ArticleEmergency Rate Cut – Feds Slash Rates By Half Percentage Point
Good news for HELOC borrowers – thanks to an emergency federal rate cut, your home equity bill may be getting smaller. Today, the government slashed the federal funds rate by half a percentage point....
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Paying Off an Original Home Loan with a HELOC
For a small number of homeowners, the mortgage crisis has created the “perfect storm”: rates have dropped significantly but their HELOC limits have stayed the same. For those who have a home equity...
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