Tag: loan
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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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Why you should check home equity loan rates daily
Multiple factors could tip home equity loan interest rates one way or the other right now. Getty Images Interest rates are changing again. After a two-plus year period in which the Federal Reserve raised rates to their highest level in decades, the federal funds rate was finally reduced in September. And, last week, the Fed…
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Should you refinance your home equity loan now that rates are cut? Experts weigh in
By refinancing their home equity loan at today’s interest rates borrowers could potentially save a substantial amount of money. John Solie/Getty Images In the post-pandemic era, home equity loan rates and home equity line of credit (HELOC) rates rose as the Federal Reserve increased the benchmark interest rate. While the cost of home equity loans…
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What will happen to home equity loan rates after this week’s Fed rate cut?
Home equity loan interest rates are poised to decline once again. Getty Images Interest rates are on the decline. Or at least the federal funds rate is. That seems to be the confusing but somewhat accurate interpretation in recent weeks after the Federal Reserve issued its first cut to the federal funds rate in more…
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Is a $100,000 home equity loan worth it?
The average homeowner is sitting on hundreds of thousands of dollars worth of home equity right now. Getty Images/iStockphoto It’s not easy to find a cost-effective way to borrow $100,000. Many credit card companies will prevent most borrowers from accessing a credit line anywhere close to that amount. And with the average credit card interest…
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How far will home equity loan interest rates drop in November?
Finding the right home equity borrowing rate could be key to balancing your debt with your borrowing needs. Getty Images High inflation and the elevated interest rates meant to tame it plagued borrowers over the past few years. But even in that high borrowing cost environment, home equity loans remained an option worth considering for…