Lititz, PA · Member since 2013 · 595 posts · 272 votes
Hello,
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?
Rental Property Investor · Northern, CA · Member since 2012 · 5k+ posts · 5k+ votes
5y
@William Coet Nobody can predict the future. However, you can look at the historical Prime Rate to get an idea of what it’s done over the PAST 10 years, and you’ll see that the rate during that time has fluctuated from a low of 3.25% to a high of 5.5%.