home equity

National home equity loan rates for May 26, 2011

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Find the best home equity rates in your area.

Home Equity

  • 5.57% (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 25, 2011.

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

The average rate on home equity loans didn't move from last week, when the average was 6.93 percent.

For a typical home equity line of credit, or HELOC, the average was 5.57 percent, up 2 basis points from the previous week. A basis point is one-hundredth of 1 percentage point.

To find the best home equity loan rates in your area, see all Bankrate's home equity loan rates content.

-- Gregg Fields

 

 

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Tap HELOC to cover college costs?

Dear Dr. Don, I have a home equity line of credit, or HELOC, for $110,000 that expires in September 2016. I do not have a mortgage. I won't need to use the home equity line until 2015 when my children head to college. I'd... Read more

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