home equity

National home equity loan rates for June 23, 2011

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

Home Equity

  • 5.60% (line of credit)
  • 6.93% (loan)

Loans backed by home equity showed little movement in the latest Bankrate survey.

The typical home equity loan had an interest rate of 6.93 percent, up 1 basis point from a week earlier. A basis point is one-hundredth of 1 percentage point.

On a typical home equity line of credit, or HELOC, the interest rate was 5.6 percent, down 1 basis point.

-- Gregg Fields

 

 

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Is it wise to max out your HELOC?

Dear Dr. Don, I have a 3.25 percent adjustable home equity line of credit. The draw period on the HELOC ends next April when it will convert to an amortized 20-year home equity loan at the 3.25 percent adjustable rate.... Read more

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