home equity

Home equity loan rates: June 24, 2010

Interest Rate Roundup
Home equity rate graph

Home Equity

  • 5.6% (line of credit)
  • 7.28% (loan)
Here's a look at the state of home equity rates from Bankrate.com's weekly national survey of large banks and thrifts conducted June 23, 2010.

Rates on home equity products did not budge this week.

The average home equity line of credit, or HELOC, remained unchanged at 5.6 percent.

Meanwhile, home equity loan rates also held steady, at 7.28 percent. They remain at their lowest level since November 2005.

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

-- Chris Kissell

 

 

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Time to sound HELOC alarm bells?

Dear Dr. Don, I have a variable-rate home equity line of credit, or HELOC, at 2.9 percent. I'd like to convert it to a fixed-rate mortgage. I have 20 years remaining to pay off the home equity line. Would it be beneficial... Read more

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