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Home equity averages for March 12, 2009

By Chris Kissell • Bankrate.com

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 March 11, 2009.

  • Mortgages
  • CDs
  • Auto Loans
  • Home Equity
  • Credit Cards

Home Equity

Rate: 5.57 percent (line of credit); 8.6 percent (loan)

Rates on home equity products were split this week.

The average home equity line of credit, or HELOC, fell 1 basis point, to 5.57 percent. However, home equity loan rates increased 3 basis points, to 8.6 percent.

To find the best home equity loan rates in your area, check Bankrate's interactive tool.

-- Chris Kissell

 

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Posted: March 12, 2009
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About this index
Home Equity Averages
Product Rate +/- Last week
$30K HELOC
4.99% 5.00%
$30K home equity loan
6.19% 6.21%
$50K HELOC
4.56% 4.58%
$75K home equity loan
5.97% 6.01%
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