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 Aug. 6, 2008.
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Home equity products
Rates: 5.57 percent (line of credit); 7.98 percent (loan)
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Rates on home equity products moved a bit higher this week.
The average home equity line of credit -- or HELOC -- rose 3 basis points, to 5.57 percent.
Home equity loan rates also increased 3 basis points, to 7.98 percent.
Meanwhile, news reports suggested that Morgan Stanley had frozen the HELOCs of thousands of homeowners. Representatives of the investment bank have not confirmed or denied the reports.
-- Chris Kissell
Compare home equity loans in your area. |
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July 30 - Aug. 5
