home equity

National home equity loan rates for Dec. 2, 2010

Interest Rate Roundup
Home equity loan rate graph

Home Equity

  • 5.49% (line of credit)
  • 7.08% (loan)

Here's a look at the state of home equity rates from Bankrate.com's weekly national survey of large banks and thrifts conducted Dec. 1, 2010.

In contrast to the relatively large hikes in 15- and 30-year mortgage rates, loans based on home equity rose only modestly this week.

The Bankrate national survey found that home equity loans rose 3 basis points, to 7.08 percent. A basis point is one-hundredth of 1 percentage point.

Meanwhile, the home equity lines of credit, or HELOCs, were even more stable, climbing just 1 basis point, to 5.49 percent.

To find the best home equity loan rates in your area, check Bankrate's interactive tool.

See all home equity loan rates content.

-- Gregg Fields

 

 

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Time to sound HELOC alarm bells?

Dear Dr. Don, I have a variable-rate home equity line of credit, or HELOC, at 2.9 percent. I'd like to convert it to a fixed-rate mortgage. I have 20 years remaining to pay off the home equity line. Would it be beneficial... Read more

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