- 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.