How an $80,000 home equity loan costs after Fed rate cut
CBS News calculates monthly payments for an $80,000 home equity loan using current fixed-rate offers after the Federal Reserve’s recent rate cut, showing modest monthly savings versus earlier in 2025 and last fall. The piece provides specific payment examples for 10- and 15-year terms, compares them to February 2025 and September 2024 rates, and frames the change in the context of expected additional cuts.
Economy
Personal Finance
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Here's how much an $80,000 home equity loan costs monthly after interest rates were cut
New information:
- 10-year fixed: 8.43% → $988.89 monthly payment on an $80,000 loan
- 15-year fixed: 8.31% → $778.91 monthly payment on an $80,000 loan
- Comparisons: February 2025 10-year at 8.57% ($994.88/month) and Sept 2024 10-year at 8.47% ($990.60/month) are cited to show modest declines