home equity

National home equity loan rates for July 21, 2011

Interest Rate Roundup
Home equity loan rate graph
Find the best home equity rates in your area.

Home Equity

  • 5.47% (line of credit)
  • 6.84% (loan)

Rates on various loans backed by home equity moved in opposite directions in the latest national Bankrate survey.

The typical home equity loan climbed by 5 basis points, to average 6.84 percent compared to last week's 6.79 percent. A basis point is one-hundredth of 1 percentage point.

On an average home equity line of credit, or HELOC, the rate was 5.47 percent, a downward move of 1 basis point.

 

 

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Too soon for home equity loan?

Dear Dr. Don, I was wondering if it is possible to take out a second mortgage on my house to pay for my student loans. I've owned my house for about one year now, but I don't have much equity in the home. My student loan... Read more

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