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 Aug. 12, 2009. MortgagesCDsAuto LoansHome EquityCredit CardsHome EquityRate: 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. advertisementRelated Links:4 steps to prevent a remodel gone wrong Don't turn HELOC into first mortgageHELOC makes sense if refinance doesn't Related Articles:Home equity ratesPay card with home equityHome equity rates
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 Aug. 12, 2009.
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.
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