home equity

Home equity loan rates for July 28, 2011

Interest Rate Roundup
Home equity loan rate graph
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Home Equity

  • 5.51% (line of credit)
  • 6.84% (loan)

Rates on loans backed by home equity were relatively stable in the latest Bankrate survey.

The typical home equity loan had an interest rate of 6.84 percent, unchanged from last week.

For the typical home equity line of credit, or HELOC, the rate was 5.51 percent, up 4 basis points from last week's 5.47 percent. A basis point is one-hundredth of 1 percentage point.




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Should I lock my HELOC rate?

Dear Dr. Don, We have a $128,000 home equity line of credit, or HELOC, which we've maxed out. The draw period ends two years from now. Combining the first and second mortgages by refinancing is not an option because of... Read more

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