Tag Archive for: prime rate

Are Home Equity Lines (HELOCs) Still A Thing?

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The Prime Rate today is 6.25% – a full 3% higher than where it was last year at this time. Prime Rate is the rate that commercial banks charge their […]Read More

2nd Mortgage vs. HELOC (Home Equity Line); Which Is Better?

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Yesterday’s blog, 5 Reasons to Get a HELOC, was inspired by a question from my nephew – as he is a perfect candidate for a HELOC. He is in his […]Read More

There Is No “One Rate” or “A Rate”

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I have been hearing news reporters and commentators say: “…the Fed raised ‘the rate,’” over and over, as if there is a single interest that the Fed has the power […]Read More

Mortgage Rates Do Not Equal 10-Year Treasury Rates

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The 10-Year Treasury Yield dropped almost 4/10% recently – so why didn’t mortgage rates drop that much? The 10-Year Treasury yield (interest rate) is a reflection of what it costs […]Read More

DANGER! Home Equity Lines & Inflation

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A borrower reached out to me for a Home Equity Line of Credit (HELOC) recently, and I referred her to a local bank that we work with that offers the […]Read More

What Are “Interest Rates?” Do They All Move In Unison?

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This is from a training module we just updated for our now very elaborate JVM Lending Training Program©. I thought it made for perfect blog fodder, as it is information […]Read More

Surprising Reasons Why People Are Refinancing

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The Fed raised short-term rates again yesterday but rates still remain much lower than expected. Part of the reason is that investors think the rate increases will hurt the economy […]Read More

Prime Rate Up; HELOCs Up; PMI Down

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Prime Rate was 3.5% last year at this time. Currently the Prime Rate is 4.25%. It has been climbing steadily with every increase in the Fed Funds Rate. Prime Rate […]Read More