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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Tap HELOC to cover college costs?

Dear Dr. Don, I have a home equity line of credit, or HELOC, for $110,000 that expires in September 2016. I do not have a mortgage. I won't need to use the home equity line until 2015 when my children head to college. I'd... Read more

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