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HELOC Rates Are Surprisingly Low Now | Durham News
Home equity line of credit rates are surprisingly competitive right now—averaging 7.31%, which is actually a solid deal compared to recent history. While fixed mortgage rates hover around 6.62%, HELOCs are variable and tied to the prime rate, which has dropped from 8.5% to 6.75%. That explains why HELOC rates fell from 10.16% in January to today’s more manageable level. But beware: since these rates can rise with Fed moves, it’s crucial to assess your financial situation before tapping into your home’s equity. Listen in comfort:Get a discount on a Soli Pillow…
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