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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 to [...] [...more]