BETTER HOME & FINANCE HOLDING

12.37

+0.12000.98%

Volume:99.09K

Turnover:1.22M

Market Cap:188.08M

PE:-0.91

High:12.80

Open:12.15

Low:12.10

Close:12.25

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News

Should you use your home equity to pay off credit-card debt? Read this before taking out a HELOC.

Dow Jones

·

21 Jun

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Instead, they're turning their house into a piggy bank, sometimes to get their credit-card debt under control.\"We're seeing borrowers use HELOCs for a variety of reasons, with debt consolidation being one of the most common, particularly when it comes to paying off high-interest credit-card debt,\" said Alex Elezaj, chief strategy officer at United Wholesale Mortgage . \"With the average credit-card rate sitting at well above 20%, this can be a great option for many borrowers.\". Assuming the Fed cuts its rate three times by early next year, that could lower the average HELOC rate to the mid-6% range, according to ICE. 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