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3 ways HELOC interest rates could drop this November
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If you’ve been contemplating borrowing money via your home equity, now could be a good time to act. While interest rates are at record highs on credit cards and personal loan interest are rates approaching 13% right now, rates on a home equity loan or home equity line of credit (HELOC) are still in the single digits. And rates on both products are on the decline and likely to fall further in November. This is especially true for HELOCs, which have variable interest rates subject to change monthly based on market conditions. That’s a distinct disadvantage in the rate climate borrowers have lived through in recent years but is now a major boost as interest rates are falling again.
If you’re considering a HELOC, in particular, which works as a revolving line of credit similar to credit cards, you’re likely in luck. There are multiple ways in which HELOC interest rates could drop again in November. Below, we’ll detail three of them.
Start by seeing what HELOC interest rate you can qualify for here.
3 ways HELOC interest rates could drop in November
Here are three separate ways HELOC interest rates, currently at an average of 8.69%, could drop even further in the new month:
Unemployment could fall again
The first day of the new month could be an indicator of positive rates news. Encouraging unemployment data released on November 1 showing an addition of more jobs and a drop in the unemployment rate, could spark a reduction in HELOC interest rates. This data is often used as a measurement of economic health. A lower number here, then, could encourage the Fed to keep cutting interest rates. Knowing this, lenders may start reducing their HELOC offers.
Get started with a HELOC online now.
The Fed could cut rates again
This is the most obvious way HELOC rates could fall again and it could occur after the next Federal Reserve meeting on November 7. The Fed’s first rate cut of 2024 in September caused HELOC rates to decline, so another one issued here will likely do the same, possibly even before the Fed makes it official as some lenders will price in these presumed rate cuts in advance. The CME FedWatch tool says there’s a 98% chance the Fed will cut its federal funds rate by 25 basis points at this meeting. And if the unemployment data released on the first Friday of the month is encouraging, that 98% chance could become a virtual certainty.
Inflation could continue to decline
Borrowers will need to wait for mid-November to get the next inflation reading, but if the one that comes out on November 13 is yet another encouraging one, it could lead to lenders preemptively lowering rates on borrowing products like HELOCs. After an uneven start to 2024, inflation has been consistently cooling in recent months. Another decline for October (reported in November) could be further proof to a “soft landing,” encouraging lenders to loosen up borrowing again via lower rates.
Learn more about today’s HELOC interest rates here.
The bottom line
HELOC interest rates are falling and are likely to fall again in November. With the next Federal Reserve meeting, unemployment report and inflation data all slated for a 13-day span in the first half of the month, there will be enough data to encourage lenders to again lower rates. That said, waiting for interest rates to fall is an inherently risky strategy, so if you know you need to borrow from your home and you want to do so with a HELOC, it makes sense to act now. Rates on these products will adjust independently each month anyway, so if rates fall after you’ve opened one, you’ll still be able to take advantage without having to refinance or take any additional action.
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How to watch the Minnesota Vikings vs. Chicago Bears NFL game today: Livestream options, more
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The Minnesota Vikings will take on the Chicago Bears today. The Vikings are currently 8-2, an impressive run so far this season, and will be looking to add a fourth win to their current streak after last Sunday’s 23-13 win against the Tennessee Titans. The Bears, on the other hand, are entering this game on the heels of a four-game losing streak after a tough 20-19 loss against the Green Bay Packers last Sunday.
Here’s how and when you can watch the Vikings vs. Bears game today, whether or not you have cable.
How and when to watch the Minnesota Vikings vs. Chicago Bears
The Vikings vs. Bears game will be played on Sunday, November 24, 2024 at 1:00 p.m. ET (11:00 a.m. PT). The game will air on Fox and stream on Fubo and the platforms featured below.
How and when to watch the Minnesota Vikings vs. Chicago Bears game without cable
You can watch this week’s NFL game on Fox via several streaming services. All you need is an internet connection and one of the top options outlined below.
Fubo offers you an easy, user-friendly way to watch NFL games on CBS, Fox, NBC, ABC, ESPN, and NFL Network, plus NCAA football channels. The Pro tier includes 200+ channels and unlimited DVR, while the Elite with Sports Plus tier adds NFL RedZone and 4K resolution. New subscribers get a seven-day free trial and all plans allow streaming on up to 10 screens simultaneously.
You can watch today’s game with a subscription to Sling’s Orange + Blue tier, which includes ESPN, ABC, NBC, and Fox. The plan offers 46 channels with local NFL games, nationally broadcast games and 50 hours of DVR storage. For complete NFL coverage, add Paramount+ to get CBS games, or upgrade with the Sports Extra add-on for additional sports channels like Golf Channel, NBA TV and NFL RedZone.
Watching NFL games, including Fox broadcasts, is simple with Hulu + Live TV, which includes 90 channels, unlimited DVR storage, and access to NFL preseason games, live regular season games and studio shows. The service includes ESPN+ and Disney+ in the subscription.
Want to watch today’s game live on your smartphone? If so, NFL+ streaming service is the solution you’re looking for. It lets you watch NFL Network and out-of-market games on mobile devices, with an upgrade option to NFL+ Premium that includes NFL RedZone for watching up to eight games simultaneously. Note that NFL+ only works on phones and tablets, not TVs.
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How to watch the Detroit Lions vs. Indianapolis Colts NFL game today: Livestream options, more
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The Detroit Lions will face off against the Indianapolis Colts today. The Lions enter this game as top contenders with a near-perfect record of 9-1 so far this season. The Colts, who are 5-6 this season, could have a tough game on their hands against the Lions but will be looking to rack up another win after prevailing over the New York Jets in a tight game last Sunday.
Here’s how and when you can watch the Colts vs. Lions game today, whether or not you have cable.
Here’s how and when to watch the Detroit Lions vs. Indianapolis Colts
The Lions vs. Colts game will be played on Sunday, November 24, 2024 at 1:00 p.m. ET (11:00 a.m. PT). The game will air on Fox and stream on Fubo and the platforms featured below.
How and when to watch the Detroit Lions vs. Indianapolis Colts game without cable
You can watch this week’s NFL game on Fox via several streaming services. All you need is an internet connection and one of the top options outlined below.
Experience NFL action like never before with Fubo’s comprehensive sports streaming platform. From Sunday showdowns to primetime matchups, catch every NFL game across major networks including CBS, Fox, NBC, ABC, ESPN and NFL Network. Choose the Pro package to unlock 200+ channels and limitless DVR storage, or elevate your game-day experience with the Elite with Sports Plus package, featuring NFL RedZone’s commercial-free scoring highlights and stunning 4K quality.
Test drive the service with a no-commitment seven-day free trial, and share the excitement with family and friends — Fubo supports simultaneous streaming on up to 10 devices, so everyone can watch their favorite teams.
You can watch today’s game with a subscription to Sling’s Orange + Blue tier, which includes ESPN, ABC, NBC, and Fox. The plan offers 46 channels with local NFL games, nationally broadcast games, and 50 hours of DVR storage. For complete NFL coverage, add Paramount+ to get CBS games, or upgrade with the Sports Extra add-on for additional sports channels like Golf Channel, NBA TV and NFL RedZone.
Watching NFL games, including Fox broadcasts, is simple with Hulu + Live TV, which includes 90 channels, unlimited DVR storage, and access to NFL preseason games, live regular season games and studio shows. The service includes ESPN+ and Disney+ in the subscription.
Want to watch today’s game live on your smartphone? If so, NFL+ streaming service is the solution you’re looking for. It lets you watch NFL Network and out-of-market games on mobile devices, with an upgrade option to NFL+ Premium that includes NFL RedZone for watching up to eight games simultaneously. Note that NFL+ only works on phones and tablets, not TVs.