We are looking at a 10 yr HELOC that has an adjustable rate based on the prime rate. It's attractive because there are no upfront fees. However, we are concerned about the future of the prime rate, and may opt for a fixed-rate conventional mortgage for that reason.
Where is the prime rate expected to go over the next 10 years, and by how much?
No one has any idea. Can you get a fixed rate HELOC? I don't know what the rates are like in the US, but in Canada they are still really low.