Interest Rate Roundup
home equity
Home equity loan rates: May 27, 2010

Here's a look at the state of home equity rates from Bankrate.com's weekly national survey of large banks and thrifts conducted May 26, 2010.

Home Equity

Rates: 5.63 percent (line of credit); 7.36 percent (loan)

Rates on home equity products split this week.

The average home equity line of credit, or HELOC, remained unchanged at 5.63 percent.

Meanwhile, home equity loan rates edged down 1 basis point, to 7.36 percent. That's the lowest rate 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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Ask Dr. Don

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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