home equity

National home equity loan rates for Jan. 6, 2011

Interest Rate Roundup
Home equity loan rate graph

Home Equity

  • 5.51% (line of credit)
  • 7.16% (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 Jan. 6, 2011.

Home equity-backed loans showed slight movement in the last week.

The average home equity line of credit, or HELOC, was down 1 basis point, to 5.51 percent.

The average home equity loan, however, was unchanged at 7.16 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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