Question
Many Idaho homeowners are refinancing their mortgages or getting HELOC (Home Equity Line of Credits). US Bank calculates its HELOC rate at prime rate plus
Many Idaho homeowners are refinancing their mortgages or getting HELOC (Home Equity Line of Credits). US Bank calculates its HELOC rate at prime rate plus 0.25%. Today's prime rate is 3.25% and may increase to 3.75% in 12 months if the economy improves.
requirement:
a. what is the HELOC rate today?
b. what is the HELOC's estimated rate for Nov 2021?
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Personal Finance
Authors: Jeff Madura
6th Edition
0134082915, 9780134082912
