Interest Rate Roundup
home equity
National home equity loan rates

Here's a look at the state of home equity rates from Bankrate.com's weekly national survey of large banks and thrifts conducted Jan. 27, 2010.

Home Equity

Rate: 5.7 percent (line of credit); 7.83 percent (loan)

Rates on home equity products split this week.

The average home equity line of credit, or HELOC, remained unchanged at 5.7 percent. Home equity loan rates dipped 3 basis points, to 7.83 percent.

In other home equity news, Bank of America agreed to begin modifying terms on home equity products through the federal government's Home Affordable Modification Program.

Bank of America says it is the first mortgage servicer to agree to such modifications. The lender is the nation's largest mortgage servicer, with nearly 14 million loans, including approximately 3 million second liens.

To find the best home equity loan rates in your area, check Bankrate's interactive tool.

See all home equity loan rates content.

-- Chris Kissell

advertisement

Show Bankrate's community sharing policy
          Connect with us
advertisement
HOME EQUITY STRATEGIES & ADVICE NEWSLETTER

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

advertisement

Ask Dr. Don

Too soon for home equity loan?

Dear Dr. Don, I was wondering if it is possible to take out a second mortgage on my house to pay for my student loans. I've owned my house for about one year now, but I don't have much equity in the home. My student loan... Read more

Partner Center
advertisement

Connect with us