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
MORTGAGE & REAL ESTATE NEWSLETTER

Timely market news and advice for consumers ready to buy, sell or invest in real estate. Delivered weekly.

advertisement

Ask Dr. Don

Is it wise to max out your HELOC?

Dear Dr. Don, I have a 3.25 percent adjustable home equity line of credit. The draw period on the HELOC ends next April when it will convert to an amortized 20-year home equity loan at the 3.25 percent adjustable rate.... Read more

Partner Center
advertisement

Connect with us