HELOC Rates Hit Record Low, Perfect for Holiday Cash

With the holiday season approaching, homeowners can tap into their home equity with a HELOC, currently averaging under eight percent. This low-interest option, typically for those with strong credit, allows you to access cash without selling or refinancing. The average weekly rate recently hit seven point six four percent, its lowest this year. With nearly thirty-six trillion dollars in equity built up, many are choosing HELOCs over cash-out refinances. Remember, you only pay interest on the borrowed amount, offering flexibility for managing expenses or home improvements.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.