Reported 2 days ago
Recent trends show both home equity loans and home equity lines of credit (HELOCs) have declined, with HELOC rates dropping to 7.94% and home equity loans to 8.36%. The decrease in rates, influenced by lender competition and Federal Reserve actions, has led to increased consumer interest as many homeowners leverage their equity for projects. Despite the recent drops, financial experts advise caution due to the relatively high costs associated with these loan products.
Source: YAHOO