- 5.56% (line of credit)
- 6.92% (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 May 11, 2011.
Loans backed by home equity showed little movement in the last week.
The typical home equity loan averaged 6.92 percent nationally, according to Bankrate's latest national survey. That was a decline of 2 basis points from the previous week. A basis point is one-hundredth of 1 percentage point.
The average rate for a home equity line of credit, or HELOC, was 5.56 percent, showing no change this week.
To find the best home equity loan rates in your area, see all Bankrate's home equity loan rates content.-- Gregg Fields