HELOC coming due in full?
Home Equity Loan rising?
Second Mortgage rate increase?
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Although rates on first trust deeds decreased this past two days, prime seconds will not
If you have a Home Equity Line of Credit (HELOC) you should be concerned where your rate and monthly payment will be in the future
$100k line at 5.25% = $522
Take the rate @ 10% = $877
Take the rate @ 18% = $1,507
Most of these lines of credit have a lifetime cap of 18%.
United States Average Monthly Prime Lending Rate Forecast 2016-2020
Bank Lending Rate in the United States is expected to be 4.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts� expectations.
Looking forward, we estimate Bank Lending Rate in the United States to stand at 4.25 in 12 months� time. In the long-term, the United States Average Monthly Prime Lending Rate is projected to trend around 5.25 percent in 2020, according to our econometric models.
Given the forecast, Home Equity Lines of Credit are getting pretty expensive. Get ahead of the curve and let us help you get into a fix loan.
Don�t gamble your home, moved to a fix loan!