home equity

National home equity loan rates for Feb. 24, 2011

Interest Rate Roundup
Home equity loan rate graph

Home Equity

  • 5.55% (line of credit)
  • 7.15% (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 Feb. 23, 2011.

Loans backed by home equity made little movement in the last week.

The typical home equity line of credit, or HELOC, was 5.55 percent nationally, according to Bankate's latest survey. That's a drop of 1 basis point from last week.

The average home equity loan also fell by a basis point, to average 7.15 percent.

A basis point is one-hundredth of 1 percentage point.

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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