HELOC Rates Drop, Homeowners Access Equity

On November 8th, the national average HELOC rate is 7.64%, down 42 basis points since January. This rate, offered to those with excellent credit, allows homeowners to access their equity without refinancing or selling. Lenders determine rates based on an index, like the prime rate, plus a margin. Shop around for the best deal, considering long-term rates, fees, and repayment terms.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.