- 5.54% (line of credit)
- 7.04% (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 March 9, 2011.
Loans backed by home equity showed their most movement in months this week. The bulk of the change in home equity loan rates was attributed to a change in Bankrate's sampling, which was adjusted to reflect the integration of Wachovia into Wells Fargo & Co., which acquired it in 2009.
Home equity loans averaged 7.04 percent in Bankrate's latest national survey, a drop of 11 basis points from the week earlier.
The typical home equity line of credit, or HELOC, had a rate of 5.54 percent, down 2 basis points from the previous week. It was the first time HELOC rates had shifted by more than 1 basis point since early January.
To find the best home equity loan rates in your area, check Bankrate's interactive tool.
See all home equity loan rates content.-- Gregg Fields