Home Equity
Rate: 5.71 percent (line of credit); 8.21 percent (loan)Rates on home equity products were split this week.
The average home equity line of credit, or HELOC, remained unchanged at 5.71 percent.
In other home equity news, the Federal Deposit Insurance Corp. recently sent a letter to banks recommending lenders increase their reserves in preparation for a potential wave of losses tied to defaults on home equity loans. Home equity loan rates edged up 1 basis point, to 8.21 percent.
To find the best home equity loan rates in your area, check Bankrate's interactive tool.