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If the fed cut's rates again,my HELOC's will be insanely cheap....
Old 10-29-2008, 06:26 AM   #1
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If the fed cut's rates again,my HELOC's will be insanely cheap....

I have one on my primary at prime minus it could be at 2.5%!

Another two on investment properties are sitting at prime plus .5. Gotta love that too!

The nice thing is that with all of these I can lock in for extended periods of time with minimal rate .25-.5 higher interest for 5 or 7 year interest only balloon.

I'm really tempted to buy another investment property.

I REALLY hope mortgage rates drop so I can refi at something lower than my current 5.5 fixed 15 yr. 4.5 would be sweet!

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Old 10-29-2008, 06:38 AM   #2
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3.25% (with a half point drop, today) or 3% (with a 3/4 point drop, as some have been guessing). I will be tempted to buy a long (5-10 years) @ 5.5% CD with the remainder in my HELOC (before they cut me off).

Vietnam Veteran, CW4 USA, Retired 1979
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Old 10-29-2008, 08:43 AM   #3
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Same here, mine is sitting at prime, currently 3.75%. May be a good time to lock in a rate and begin paying it off. Rate was 7.13 for a while, down to 6.x.
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