Here's a look at the state of interest rates on five common consumer banking products and the latest rates from Bankrate.com's weekly national survey of large banks and thrifts conducted Jan. 7, 2009.
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Home equity products
Rates: 5.07 percent (line of credit); 8.24 percent (loan)
Rates on home equity products changed little this week.
The average home equity line of credit, or HELOC, fell 3 basis points to 5.07 percent. HELOC borrowing costs continue to fall as a result of the Federal Reserve's latest cut in the target federal funds rate.
Meanwhile, home equity loan rates fell 2 basis points, to 8.24 percent.
-- Chris Kissell
Compare home equity loans in your area. |
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July 30 - Aug. 5
