Your Home’s $36 Trillion Secret: HELOC Rates Under 7%?! Act FAST!
Did you know homeowners are sitting on a staggering $36 trillion in equity, the largest amount on record? Despite this massive wealth, many are hesitant to sell due to low primary mortgage rates. However, home equity lines of credit, or HELOCs, offer a compelling alternative, with average rates currently around 7.44%, making it more affordable to tap into your home's value than in recent years. While introductory rates can be attractive, often below 6%, it's crucial to be aware that these rates are usually variable and will adjust substantially higher after a short period, potentially turning a short-term solution into a longer, more expensive loan. This flexibility allows you to borrow only what you need, but careful shopping and understanding the terms are essential to maximize benefits, and to learn more about smart financial strategies, make sure to subscribe to our channel.
Tags/Hashtags: #heloc #mortgage #borrowing #homeowners #curinos
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