- 5.55% (line of credit)
- 6.93% (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 18, 2011.
Rates on 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, 1 basis point above a week earlier. A basis point is one-hundredth of 1 percentage point.
On an average home equity line of credit, or HELOC, the interest rate was 5.55 percent, a decline of 1 basis point.
To find the best home equity loan rates in your area, see all Bankrate's home equity loan rates content.-- Gregg Fields