15 year home equity loan rates

Paul Davidson USA TODAY Published 3:32 PM EDT Sep 26, 2018 The Fed announced another rate hike Wednesday and that means higher borrowing costs for Americans. But the move should also continue to push up savings rates for bank customers who are finally starting to see some decent returns. Rates on credit cards, adjustable-rate mortgages and home equity lines of credit will rise, experts say, increasing Americans’ monthly payments. All are revolving loans with variable rates that are directly affected by the Fed’s move. The Federal Reserve bumped up its benchmark short-term rate by a quarter percentage point to a range of 2 percent to 2.25 percent. It also kept its forecast for another hike this year, and three more in 2019. “Rates are only going to go up,” says Nick Clements, co-founder of MagnifyMoney, a personal finance website. “That means life is going to get more expensive for debtors, and more rewarding for savers. If you are in debt, now … [Read more...] about Fed decision: How mortgages, credit cards, savings react to rate hikes

BRIT couple Ryan and Kiera Crabbe have moved 800 miles from London to Spain to help save up for a deposit on a one-bed flat because it is cheaper than renting in the capital. Ryan, 33, and his wife Kiera, 36, moved out of their rented property in Kensington in May this year and are now leasing a two-bed flat in Mallorca while they save for a deposit. Both of them work as freelance consultants - Ryan in marketing and Kiera in events - which gave them the freedom to move abroad while still earning their London wages. They'd already managed to put aside £48,000 but decided to take another year to top up their funds to make their mortgage as small as possible. The consultants - who didn’t want to disclose their income but say they are both high-rate taxpayers meaning they earn over £46,351 a year - reckon that moving abroad means they pay £1,200 a month less on rent and bills compared to London. In total, they are saving £2,000 a month thanks to their new lower … [Read more...] about Brit couple move to SPAIN for a year to save up for one-bed flat deposit in London because it’s cheaper than renting

BUYING a house is stressful - and Amy Edwards from Newcastle would definitely agree.  The 25-year-old quality analyst nearly missed out on her £70,0000 three-bed North Tyneside home after her bank blocked her deposit transaction on completion day because they suspected it could be fraud. Thankfully, the issue was quickly resolved when she spoke to her bank. But that wasn't the only worry. The property had been repossessed from the previous owners which meant that she had to exchange contracts and complete on the same day. Normally, a property is taken off the market when you exchange contracts but this arrangement meant that the house was left open to higher bidders until she'd got the keys. Single first-time buyers in the north east typically need six years to save for one, but Amy managed to save £4,500 in a year, on an average annual salary of £18,600 - so, how did she do it? Firstly, Amy was living with her dad, who didn't charge her rent and she … [Read more...] about Single woman, 25, on the ‘stress’ of buying £70k three-bed repossessed house after just one year of saving