Tag: rates

The cost of your credit card debt could increase now that inflation is ticking back up. Jens Kristian Balle/Getty Images With the average credit card interest rate currently hovering above 23%, millions of Americans are finding it harder to keep up with their monthly credit card payments. The typical cardholder has close to $8,000 in…

U.S. inflation rose 2.6% in October, a month after the Federal Reserve began cutting rates

Nov 13, 2024

—

by

What does Fed rate cut say about the economy? What does the Fed’s interest rate cut say about the state of the economy? 04:00 U.S. inflation rose 2.6% on an annual basis last month, representing an uptick from September when the Federal Reserve began cutting interest rates amid signs of cooling prices and a weaker…

How much would a $10,000 home equity loan cost monthly now that rates are cut?

Nov 12, 2024

—

by

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…

Why you should check home equity loan rates daily

Nov 12, 2024

—

by

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…

Should you refinance your home equity loan now that rates are cut? Experts weigh in

Nov 11, 2024

—

by

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…

4 smart home equity moves to make now that the Fed cut rates again

—

by

To get the most value out of their home equity borrowers should make select moves now that the Fed’s cut interest rates again. Getty Images/iStockphoto While another Federal Reserve rate cut issued this week won’t be great for savers accustomed to earning high returns on their money, it will provide another boost to borrowers. Whether…

Here’s how far HELOC interest rates have dropped this year

—

by

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…

What the Fed rate cut means for HELOC interest rates

—

by

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…

Federal Reserve cuts interest rates another quarter-point

—

by