Reported 1 day ago
Home equity rates have fallen to their lowest levels since 2023, with HELOC rates dropping to 7.84% and 5-year home equity loans at 8.15%. Analysts attribute this decline to Federal Reserve actions and increased lender competition. Homeowners are encouraged to consider HELOCs for large projects, taking advantage of the lower rates and potential introductory offers. Overall, while home equity borrowing appears more accessible now, individuals should carefully compare offers and be aware of their financial situation.
Source: YAHOO