- 5.56% (line of credit)
- 6.94% (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 4, 2011.
Loans backed by home equity showed little movement in the last week.
A typical fixed-rate home equity loan was 6.94 percent, unchanged from the previous week. A basis point is one-hundredth of 1 percentage point.
The typical home equity line of credit, or HELOC, averaged 5.56 percent. That was a drop of 3 basis points from the previous Bankrate survey.
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