Here's a look at the state of home equity interest rates from Bankrate.com's weekly national survey of large banks and thrifts conducted Nov. 25, 2009.
Home EquityRates: 5.61 percent (line of credit); 7.88 percent (loan)
Rates on home equity products rose this week.
The average home equity line of credit, or HELOC, rose 2 basis points, to 5.61 percent. Home equity loan rates edged up 1 basis point, to 7.88 percent.
In other home equity news, nearly one in four homeowners across the United States now owes more on their mortgages than the house is worth, according to a Wall Street Journal report.
The report cited figures from First American CoreLogic, a real-estate information company based in Santa Ana, California. Nearly 10.7 million households -- 23 percent of all homeowners with mortgages -- are now "underwater."
To find the best home equity loan rates in your area, check Bankrate's interactive tool.
-- Chris Kissell