- 5.59% (line of credit)
- 6.91% (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 June 1, 2011.
Loans backed by home equity showed little movement in the latest Bankrate survey.
Home equity loans averaged 6.91 percent nationally, down 2 basis points from a week earlier. A basis point is one-hundredth of 1 percentage point.
A typical home equity line of credit, or HELOC, averaged 5.59 percent, 2 basis points higher than a week earlier.
— Gregg Fields