- 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.