HELOC Rates Dip: A Good Time for Homeowners?
Update: 2025-11-11
Description
Exploring HELOC Trends: A Potentially Favorable Time for HomeownersThe podcast delves into the current trends in Home Equity Lines of Credit (HELOCs), with national average rates now around 7.5%. Curinos data shows a decrease of over 40 basis points since the start of the year. These rates are typically offered to homeowners with strong credit scores and a low combined loan-to-value ratio.With over $34 trillion in home equity by the end of 2024, many homeowners are considering HELOCs to access their locked-in value. Unlike traditional mortgages, HELOCs have interest rates based on an index rate plus a lenders margin. While introductory rates can be attractive, they often become adjustable and increase significantly after a short period. Therefore, its crucial to compare both introductory and variable rates, as well as any fees and repayment terms, when considering a HELOC.
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