Home equity lines of credit, or HELOCs, are a popular borrowing choice for homeowners–and the fixed-rate HELOC is no exception. While most HELOCs are variable-rate loans, the fixed-rate HELOC option is becoming more common.
Your Top 5 HELOC Questions Answered
A home equity line of credit, or HELOC, is a great option for many homeowners. You can use a HELOC to fund a home renovation, finance a large purchase, or consolidate debt. Like any type of loan, it’s important to know the pros and cons of a HELOC and figure out if it’s the best fit for your needs. We’ve answered some of the most common questions about home equity lines of credit here.
Fed Funds Rate Just Dropped Again: Will Your Interest Rates Go Down?
The Federal Reserve (Fed) lowered its benchmark interest rate by a quarter point in late July 2019 and again in September to a current range of 1.75 to 2 percent. This was headline news because these were the first cuts to the federal funds rate since the 2008-09 recession.
But is it news for your budget? Will you see a corresponding
drop in the interest rate you pay on your loans? That depends.
Is HELOC Interest Tax Deductible?
Building Wealth: A Beginner’s Guide to Securing Your Financial Future
Building wealth doesn’t happen overnight. It takes hard work to achieve, but it’s not impossible. There are some tried and true methods that have helped secure the financial futures of lots of people from all walks of life. Set Yourself Up To Build Wealth A college degree is still one of the biggest keys to […]
Too Much Credit Card Debt? Expert Tips for Paying It Off
American consumers are awash in debt. According to a recent report by the Federal Reserve, we collectively owe $4.1 trillion in consumer debt, including over $1 trillion in credit card or revolving debt. Are you stressed—both mentally and financially—about your share of this credit card debt? Then it’s time to take action and heed these […]
