Home equity line of credit: Keep it or not?

Home equity line of credit: Keep it or not?: "It's time to consider whether to keep your home equity line of credit or get rid of it.
Rates on credit lines have been rising for a year and a half. Meanwhile, long-term mortgage rates have been falling for a month and a half. This up-down combination gives borrowers a chance to pay off their credit lines with other types of loans.
To decide whether it makes sense to ditch your credit line, you have to do some math and think about the price you're willing to pay for the flexibility of having a credit line.
If the math in this article makes your head hurt, you can ask a mortgage broker or loan officer to crunch the numbers.
Home equity lines of credit, known to mortgage geeks as HELOCs, usually go up and down with the prime rate. The rates on credit lines used to be 2 percentage points lower than rates on 30-year, fixed-rate mortgages, but now they're about 1 point higher."

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