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This weekend we're looking at whether anyone wants Meta's AI glasses, a rough quarter for prediction markets, bars getting quieter and more.
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HELOC rates today, August 11, 2025: The rate today likely won't be the rate you'll pay; here's why
The HELOC interest rate remains under 9%. Thing is, you probably won't see that rate even if you sign up for a HELOC today. If you shop around, you'll find a lender who will offer you a low introductory rate for six months — or even longer. The variable rate we're quoting won't come into play until after your "teaser" rate expires. It could change by then. A home equity line of credit is a useful financial tool to have in your money toolbox. You can use it anytime, or never. You'll pay interest only when you draw from your available credit. Now, let's check the latest HELOC rate. Dig deeper: Is now a good time to take out a HELOC? This embedded content is not available in your region. HELOC rates Monday, August 11, 2025 According to Bank of America, the largest HELOC lender in the country, today's average APR on a 10-year draw HELOC is 8.72%. That is a variable rate that kicks in after a six-month introductory APR, which is 6.49% in most parts of the country. Homeowners have a huge amount of value tied up in their houses — more than $34 trillion at the end of 2024, according to the Federal Reserve. That's the third-largest amount of home equity on record. With mortgage rates lingering in the high 6% range, homeowners are not likely to let go of their primary mortgage anytime soon, so selling the house may not be an option. Why let go of your 5%, 4% — or even 3% mortgage? Accessing some of the value locked into your house with a use-it-as-you-need-it HELOC can be an excellent alternative. How lenders determine HELOC interest rates HELOC interest rates are different from primary mortgage rates. Second mortgage rates are based on an index rate plus a margin. That index is often the prime rate, which today is 7.50%. If a lender added 1% as a margin, the HELOC would have a rate of 8.50%. Lenders have flexibility with pricing on a second mortgage product, such as a HELOC or home equity loan, so it pays to shop around. Your rate will depend on your credit score, the amount of debt you carry, and the amount of your credit line compared to the value of your home. And average national HELOC rates can include "introductory" rates that may only last for six months or one year. After that, your interest rate will become adjustable, likely beginning at a substantially higher rate. How a HELOC works You don't have to give up your low-rate mortgage to access the equity in your home. Keep your primary mortgage and consider a second mortgage, such as a home equity line of credit. The best HELOC lenders offer low fees, a fixed-rate option, and generous credit lines. A HELOC allows you to easily use your home equity in any way and in any amount you choose, up to your credit line limit. Pull some out; pay it back. Repeat. Meanwhile, you're paying down your low-interest-rate primary mortgage like the wealth-building machine you are. This embedded content is not available in your region. Look for introductory rates, but be aware of a rate adjustment later Today, FourLeaf Credit Union is offering a HELOC rate of 6.49% for 12 months on lines up to $500,000. That's an introductory rate that will convert to a variable rate later. When shopping lenders, be aware of both rates. And as always, compare fees, repayment terms, and the minimum draw amount. The draw is the amount of money a lender requires you to initially take from your equity. The power of a HELOC is tapping only what you need and leaving some of your line of credit available for future needs. You don't pay interest on what you don't borrow. HELOC rates today: FAQs What is a good interest rate on a HELOC right now? Rates vary so much from one lender to the next that it's hard to pin down a magic number. You may see rates from nearly 7% to as much as 18%. It really depends on your creditworthiness and how diligent a shopper you are. Is it a good idea to get a HELOC right now? For homeowners with low primary mortgage rates and a chunk of equity in their house, it's probably one of the best times to get a HELOC. You don't give up that great mortgage rate, and you can use the cash drawn from your equity for things like home improvements, repairs, and upgrades. Of course, you can use a HELOC for fun things too, like a vacation — if you have the discipline to pay it off promptly. A vacation is likely not worth taking on long-term debt. What is the monthly payment on a $50,000 home equity line of credit? If you take out the full $50,000 from a line of credit on a $400,000 home, your payment may be around $395 per month with a variable interest rate beginning at 8.75%. That's for a HELOC with a 10-year draw period and a 20-year repayment period. That sounds good, but remember, it winds up being a 30-year loan. HELOCs are best if you borrow and pay back the balance in a much shorter period of time.
Yahoo
24 minutes ago
- Yahoo
US stock futures higher ahead of inflation data
U.S. stock futures are higher, near record highs, ahead of inflation data this week. July's consumer price index this week is expected to rise. A Reuters poll of economists forecasts the annual rate at 2.8%, up from June's 2.7%. Investors will be watching to see if President Donald Trump's tariffs on imports are translating into higher prices. The June CPI report suggested tariffs were boosting the prices of some goods. At 6 a.m. ET, futures tied to the blue-chip Dow rose 0.22%, while broad S&P 500 futures added 0.10% and tech-laden Nasdaq futures gained 0.05%. The U.S. government takes a cut Semiconductor giants Nvidia and AMD will give the U.S. government 15% of their revenues from certain chips sold in China, the Financial Times reported. In return, the companies received export licenses to sell Nvidia's H20 and AMD's MI308 chips in China, according to the FT. Such a deal would be unprecedented. Separately, Nvidia refuted allegations from Chinese state media that its H20 artificial intelligence chips are a national security risk for China. Oil prices dip Oil prices fell last week as investors awaited talks between Russian president Vladimir Putin and Trump. The two presidents will discuss what it will take to stop the Ukraine-Russia war. The meeting raises expectations of a diplomatic end to the war. If the war ends, oil supply could increase on the world market as sanctions on Russian oil are lifted. Cryptocurrency El Salvador passed a law last week allowing financial institutions with over $50 million in capital to becom an investment bank and apply for crypto licenses and offer crypto-related services to investors with over $250,000 in liquid assets. Medora Lee is a money, markets, and personal finance reporter at USA TODAY. You can reach her at mjlee@ and subscribe to our free Daily Money newsletter for personal finance tips and business news every Monday through Friday morning. This article originally appeared on USA TODAY: US stock futures higher ahead of inflation data Sign in to access your portfolio
Yahoo
24 minutes ago
- Yahoo
TSX futures rise amid US-Russia meet, trade talks; key data in focus
(Reuters) -Futures tied to Canada's main stock index edged up on Monday, mirroring Wall Street peers, as investors shifted their attention to the week's upcoming U.S.-Russia talks, trade negotiations and pivotal U.S. inflation data. Futures on the S&P/TSX index rose 0.17% by 05:34 a.m. ET (0934 GMT). The move follows a strong weekly performance for the Toronto Stock Exchange's S&P/TSX composite index, as solid corporate earnings propelled its largest weekly advance in nearly a year. Investor focus will be on talks between U.S. President Donald Trump and Russian leader Vladimir Putin on August 15 in Alaska, to negotiate a possible end to the war in Ukraine. Also on cards is a looming U.S. tariff deadline on China, set to expire on Tuesday, with expectations for another extension to avert triple-digit percentage levies. Tuesday's July U.S. consumer price index data will indicate whether Trump's import tariffs are fueling price pressures, which could sway market bets on a September interest rate cut by the Federal Reserve. Canada is poised for a data-light week, with Friday's June wholesale trade and manufacturing sales figures to be the only notable indicators. On Wednesday, the Bank of Canada will release the Governing Council deliberations summary for the decision announced two weeks earlier, when the policy rate was kept unchanged but the bank indicated future cuts if the economy weakens further and inflation remains in check. On the day, the materials index could come under pressure as gold prices dropped more than 1% ahead of U.S.-Russia talks. [GOL/] Oil prices also fell, extending declines of more than 4% last week. [O/R] Barrick Mining will post its quarterly results later in the day. FOR CANADIAN MARKETS NEWS, CLICK ON CODES: TSX market report [.TO] Canadian dollar and bonds report [CAD/] [CA/] Reuters global stocks poll for Canada Canadian markets directory Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
