home equity

National home equity loan rates for Aug. 25, 2011

Interest Rate Roundup
Home equity loan rate graph
Find the best home equity rates in your area.

Home Equity

  • 5.40% (line of credit)
  • 6.83% (loan)

Rates on loans backed by home equity inched up in Bankrate's weekly survey.

The typical home equity loan had an interest rate of 6.83 percent, up 1 basis point compared to last week. A basis point is one-hundredth of 1 percentage point.

The typical home equity line of credit, or HELOC, rose 2 basis points to 5.4 percent.

 

 

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Advice for homeowners looking for options to use their home’s equity wisely. Delivered monthly.

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Ask Dr. Don

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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