Interest Rate Roundup
- Line of credit: 4.69%
- Loan: 5.97%
Rates on loans backed by home equity were mixed this week, according to Bankrate's latest survey of interest rates.
The typical home equity loan rose 3 basis points to 5.97 percent. A basis point is one-hundredth of 1 percent.
The typical home equity line of credit, or HELOC, dropped 6 basis points to 4.69 percent.
The difference in home equity loan rates is the result of a change in the financial institutions participating in our survey.