- 5.56% (line of credit)
- 7% (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 23, 2011.
Loans backed by home equity moved in opposing directions this week, according to the latest Bankrate national survey.
The typical home equity loan averaged 7 percent, a drop of 5 basis points from last week. A basis point is one-hundredth of 1 percentage point.
The average for home equity lines of credit, or HELOCs, was up by 3 basis points to 5.56 percent.
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