- 5.48% (line of credit)
- 6.79% (loan)
Rates on loans backed by home equity were flat to down in the latest Bankrate survey.
On a typical home equity loan, the average interest rate was 6.79 percent, off 1 basis point from 6.8 percent last week. A basis point is one-hundredth of 1 percentage point.
On a typical home equity line of credit, or HELOC, the average rate dipped to 5.48 percent, compared to 5.55 percent last week.Rate changes may have been impacted by changes in the survey sampling.