Tag: home
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6 ways your home equity can help you earn more money in 2025
This could be the right time to tap into your home equity and increase your earning potential. Getty Images The dramatic rise in home values over the past few years has created an unprecedented opportunity for homeowners to leverage their property’s equity. After all, millions of Americans are now sitting on substantial wealth tied up…
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2 killed in Ohio home explosion, cause under investigation
An explosion at an Ohio home Tuesday killed two people, injured one and sent debris flying throughout a neighborhood, authorities said. It’s not yet known what caused the blast in Bethel, which happened shortly before 9 a.m. and set the home on fire. “I just heard a big boom, and I looked out the window…
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Why home equity loans are better than refinancing right now
Before refinancing your mortgage it first makes sense to calculate your potential home equity loan costs. Getty Images Homeowners looking to access a large sum of money in today’s economic climate don’t have to look too far to find it. By turning to their accumulated home equity, owners can potentially finance a major expense (or…
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3 great ways to use home equity in the final weeks of 2024
There are multiple smart ways homeowners can use the equity they’ve built up in the final weeks of 2024. Getty Images Home equity is calculated by deducting your existing mortgage loan balance from your home’s current value. And, in today’s unique economic climate, that calculation has led to the average homeowner accumulating approximately $330,000 worth…
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Should you use home equity to cover holiday spending?
Using your home equity to cover holiday expenses could be a risky route to take, experts say. Getty Images The holidays are near, and many Americans are now looking for ways to finance their celebrations. But credit card rates have climbed to an all-time high of over 23% on average, making traditional holiday spending much…
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Bhutan building Mindfulness City to create jobs, lure young Bhutanese home from abroad
Bhutan building Mindfulness City to create jobs, lure young Bhutanese home from abroad – CBS News Watch CBS News Bhutan, a country that prioritizes happiness, has seen 9% of its population leave in recent years. Now the king is launching a bold plan for a new city to create jobs and lure people back. Be…
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Considering using your home equity now? Pros and cons of acting before 2025
There are timely benefits and downsides to using your home equity before 2025. Getty Images With credit card interest rates breaking multiple records so far this year and rates on personal loans well into the double digits, home equity borrowing has become the clear best alternative for many borrowers right now. With interest rates averaging…
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Should you open a home equity loan with inflation rising again?
It can still be beneficial to borrow from your home equity now, even with inflation rising again. Getty Images/iStockphoto After a relatively steady path downward for most of the year, inflation rose again in October, according to a Thursday reading from the Bureau of Labor Statistics. Now at 2.6%, the rate increased by two-tenths of…
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How much would a $10,000 home equity loan cost monthly now that rates are cut?
Before borrowing from their home equity, homeowners should calculate their potential monthly payments. Getty Images The federal funds rate is on the decline again. And that’s good news for borrowers of all types, particularly those who are considering accessing their existing home equity. While the Federal Reserve’s actions (or lack thereof) influence borrowing products in…
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Will home prices drop in 2025? Here’s what experts say.
Home prices could drop in some markets next year, but overall, it’s unlikely. David McNew/Getty Images Higher mortgage rates and limited homes for sale have created major hurdles for buyers in recent years. Average 30-year mortgage rates hover between 6.08% and 7.44%, while available listings remain far below normal levels. Home prices that surged during…