HELOC Rates Dropping in 2025, Homeowners Benefit

With the Federal Reserves recent rate cut, HELOCs are set to become even more affordable in 2025. Homeowners can tap into their significant home equity, currently at a record $36 trillion, without losing their low-interest primary mortgage. HELOC rates, based on the prime rate plus a lender-set margin, are expected to drop to new lows, offering a flexible borrowing option with interest paid only on used funds.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.