How much does a $100,000 HELOC cost monthly now that the Fed's cut rates again?

With interest rates cut again, now could be the smart time to apply for a HELOC. Getty Images/iStockphoto

Interest rates are on the decline again after the Federal Reserve issued a much-anticipated 25 basis point reduction on Wednesday.

The first rate cut of 2025, but potentially not the only one this year, will ease the cost of borrowing for millions of Americans, even if that relief comes in small increments. Perhaps it will be most powerfully felt, however, with variable rate products that respond quickly to market conditions. And a home equity line of credit (HELOC) is one such example.

This unique product allows homeowners to use their accumulated home equity via a revolving line of credit. With home equity levels recently hitting a record high, on average, th