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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Advice for homeowners looking for options to use their home’s equity wisely. Delivered monthly.

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Ask Dr. Don

Time to sound HELOC alarm bells?

Dear Dr. Don, I have a variable-rate home equity line of credit, or HELOC, at 2.9 percent. I'd like to convert it to a fixed-rate mortgage. I have 20 years remaining to pay off the home equity line. Would it be beneficial... Read more

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