Will home equity loan interest rates fall in November? [CBS News]
TrustCo Bank Corp NY (TRST)
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Source: CBS News
With a home equity loan , homeowners can access funds in a lump sum, while a HELOC offers them the ability to borrow as needed from a line of credit, up to a set limit. Traditionally, both home equity and HELOC rates have been affordable because they're secured debts, which means there's lower risk for lenders. However, as inflation surged in the post-pandemic era and the Federal Reserve raised interest rates in response, home equity borrowing rates climbed to their highest level in years. Those high borrowing costs couldn't last forever, though. The Federal Reserve cut rates in September for the first time in years, and predictions of home equity loan rate drops in the summer of 2024 came true. Declining rates left some borrowers wondering if they should get a home equity loan in 2024 , while others have been waiting for interest rate forecasts for the fall to help them decide if additional savings will be available after another rate drop . There's also the question of whether a
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TRST
News
- TrustCo Continues Uninterrupted Century-Long Streak of Dividend Payments – Declares $0.36 Per ShareGlobeNewswire
- How far will mortgage interest rates fall in November? [CBS News]CBS News
- TrustCo Bank GAAP EPS of $0.68, revenue of $43.6M [Seeking Alpha]Seeking Alpha
- Trustco Reports Third Quarter 2024 Net Income of $12.9 Million; Skillful Application of Strong Fundamentals Produce Solid ResultsGlobeNewswire
- TrustCo to Release Third Quarter 2024 Results on October 21, 2024; Conference Call on October 22, 2024GlobeNewswire
TRST
Earnings
- 7/22/24 - Beat
TRST
Sec Filings
- 11/19/24 - Form 8-K
- 11/19/24 - Form 4
- 11/19/24 - Form 4
- TRST's page on the SEC website