Inflammation/getTyimages;Illustrated by Bankrate
Home Equity, Mortgages, Real Estate Top Stories
What happens to Helock due to poor housing?
If the US falls into a recession, it could make it even more difficult for homeowners to hold a Home Equity Credit Line (HELOC). If history is a guide, a decline in home prices and a decline in value can encourage lenders to freeze, cut, or demand full credit line payments. What is the best way for a homeowner to prepare?
Are there any home conflicts on the horizon?
There is a lot of talk about the housing market about to crash. It’s a relief from price increases, long days in the market, bigger price cuts, seller concessions. And don’t forget to consider President Trump’s trade war and massive deportation. But our experts ask us to be different, saying that the market is heading towards a “soft landing” rather than collapse on the scale of the Great Recession. We’ll explore all the reasons.
Layoffs could put mortgage protection on Limbo
The job was cut by regulatory bodies that oversee the mortgage market, including the Consumer Financial Protection Agency, the Housing and Urban Development Agency, and the Federal Housing Financial Institutions. So who will oversee lenders and implement regulations designed to protect consumers?
How presidential policies can make homes (even numbers) affordable?
Americans who already deal with high home prices and mortgage fees could be further squeezed by the administration’s tent pole policy on tariffs and immigration. Many economists predict that these policies will lead to increased construction costs, reduced labor and increased interest rates. We share tips on how consumers can navigate these uncertain times.
Who is the home equity loan?
As home values and housing stock levels have risen to new highs, homeowners are using their homes for cash on HELOC and home equity loans. Where are they getting it? Celebrities such as Bank of America, Citizens Bank and PNC Bank led claims in 2024 withdrew billions of dollars in loans last year. Here is the list of the biggest lenders.
Score how Helocs reached your credit score
Like any other debt, HELOC will report your credit history. While most lenders are given to check your credit score when applying for a HELOC, what has a major impact on your score and creditworthiness is how you use and manage your HELOC after it is opened.
Rate Summary
HELOCS will rise, but home equity loan fees will fall…
Home equity rate split decision for the most recent week. After falling for six consecutive weeks, Helocs rose to 8%. Meanwhile, home equity loans averaged $30,000 have dropped to just 8.38%.
…and mortgage fees will jump
Mortgage rates rose in recent weeks, with a fixed interest rate average of 6.83% over 30 years, according to Bankrate’s latest lender survey.
Just in case you missed it
Technically, these stories have been released in the past few weeks, but they are still worth highlighting.
Two big lenders link
Consolidation is being done in the mortgage space. Rocket Mortgage has announced plans to buy Cooper in a $9.4 billion all-stock deal. Can Rocket, the second-largest founder of mortgages, and Cooper, the country’s largest mortgage servicer, promise to cut costs and improve the experience for nearly 10 million customers?
How to use HELOC responsibly
HELOC will have cash access to everything from home renovations to education expenses to debt consolidation. But just because you can use HELOC for virtually everything (even expensive vacations and cars) doesn’t mean you should. Is this the right time to rent a home against the value of your home?
