home equity interest
Tuesday, January 19th, 2010
How often do home equity LOC interest rates change?
A month ago I applied for a home equity line of credit. I haven’t used any of it yet because I have a rate lock option and want to see the median int rate over a period of time. I log into my bank website daily to check the rates and they have not changed the entire month. Is this possible? I e-mailed them twice to ask about why the rates don’t change and they keep replying but give me other information–not answering my question like “did you know your interest paid could be tax deductable if…” Please let me know how often these interest rates change. I don’t know if they just don’t update their webpage. Additionally the rate has been 6.55 %variable and 7.4% locked. Is this good?
equity loan interest rates change daily, as the market dictates.
Money Management : About Home Equity Interest Rates