$90,000 home equity loan monthly cost after Fed rate cut
CBS News reports current monthly payments for a $90,000 fixed‑rate home equity loan in the wake of the Federal Reserve’s recent rate cuts. Using prevailing quoted rates, the piece gives exact monthly payments for 10‑ and 15‑year terms, compares those figures with February 2025 and October 2024 costs, and discusses HELOCs as an alternative given current market pricing.
Economy
Finance
🔍 Key Facts
- $90,000 home equity loan — 10‑year fixed at 8.34% → $1,108.18 per month
- $90,000 home equity loan — 15‑year fixed at 8.21% → $871.03 per month
- Comparisons: February 2025 10‑year at 8.55% → $1,118.28/month; Oct 2024 10‑year at 8.47% → $1,114.43/month