Tag Archive | "finance"

Where Have All the HELOCs Gone?

Applying for a HELOC loan is extremely difficult in today’s market. Lenders have already trimmed lines and they’re anxious about taking on new borrowers, especially those without a stellar financial record. NY Daily News reports: “Looking to get a loan for school? A car? A house? Fat chance. Billions of dollars have flowed into bank [...] [...more]

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HELOC Lending Standards Tighten, Interest Rates Drop

Due to recent federal cuts, HELOC interest rates are dropping. Currently the average HELOC rate is 7.74% and the average fixed-rate home equity loan is 8.07%. According to the March edition of Kiplinger’s Personal Finance,  these rate cuts come at a time when HELOC lending standards are tightening – making it more difficult for borrowers [...] [...more]

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