Enter the HELOC. Home equity lines of credit are second loans taken outside the primary mortgage, and millennials are leading the pack to cash in. “The last time interest rates rose as much as they have over the past few months, we saw cash-out refinances decline by 50 percent,”...
Mrs. 1500: It’s difficult to really pinpoint that because we were flipping houses and we would get a mortgage on a property when we purchased it, but then we would pretty much pay cash for the repairs. We weren’t paying cash. We were turning credit cards to get points so we can ...
groceries and gasoline surged, prompting theFederal Reserveto hike interest rates to a two-decade high. Higher interest rates, in turn, created other downstream effects, pushing mortgage rates above 8% for the first time in decades and making it much harder ...