Tag: HELOC
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3 timely HELOC myths homeowners should know now
A HELOC could be a useful tool for borrowers now that interest rates are falling again. Getty Images/iStockphoto When it comes to borrowing from your home equity, you have a variety of options to choose from. From reverse mortgages for seniors to cash-out refinancing to home equity loans, there are multiple ways to tap into…
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4 ways a HELOC could save you money right now
A HELOC could save users more money than other popular borrowing alternatives. Getty Images If you’re a homeowner, you may have the opportunity to borrow against the equity in your property. You can do that by taking out a home equity loan or a home equity line of credit (HELOC). Both allow you to borrow…
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Here’s how far HELOC interest rates have dropped this year
HELOC rates have been on a downward trend for much of 2024. Getty Images After more than four years in which interest rates were hiked numerous times, the Federal Reserve started cutting interest rates in September, starting with a larger-than-expected 50 basis point cut. But that was just the beginning, with the Fed continuing to…
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What the Fed rate cut means for HELOC interest rates
A HELOC offers homeowners the key to cost-effective financing right now. Getty Images/iStockphoto Interest rates are heading down again, according to the Federal Reserve. On Thursday, the Fed issued another cut to its federal funds rate, the second in the last three months. Now at a range between 4.50% and 4.75%, the rate is down…
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Is a $50,000 HELOC worth it now?
A HELOC could be one of the best borrowing options to consider if you need access to $50,000 worth of funds. TEERAYUT CHAISARN/Getty Images Finding an affordable borrowing option has been challenging over the last few years. While rates have been dropping over the last couple of months, the cost of borrowing remains relatively high…
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HELOC interest rates are falling. Here’s how much further they can drop this November.
With HELOC rates on the decline, borrowers may want to consider making some select moves this November. Getty Images/iStockphoto If you have been looking for an inexpensive way to borrow money in recent years and have been put off by the high interest rates associated with credit cards and personal loans, you may have considered…