- 5.42% (line of credit)
- 6.84% (loan)
Rates on loans backed by home equity were mixed in Bankrate's weekly survey.
The typical home equity loan had an interest rate of 6.84 percent, unchanged from last week.
But for the typical home equity line of credit, or HELOC, the rate was 5.42 percent, down 9 basis points from last week's 5.51 percent. A basis point is one-hundredth of 1 percentage point.