Homeowners Tap Equity: Loan Rates & Smart Borrowing
Business & Finance News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
Homeowners are cashing in on record home equity, with over $271 billion in HELOCs and $40 billion in home equity loans last year. Rates are low, averaging 7.20% for adjustable HELOCs and 7.47% for fixed loans. This option allows borrowers to access cash without refinancing their primary mortgage, ideal for renovations, debt payoff, or investments. Shop smart for low fees, fixed-rate options, and flexible draw minimums.
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