Interest Rate Roundup
- Line of credit: 4.72%
- Loan: 5.94%
Rates on loans backed by home equity fell in Bankrate's weekly survey.
The typical home equity loan fell 12 basis points to 5.94 percent. A basis point is one-hundredth of 1 percent. The decrease resulted from a change in the mix of lenders surveyed by Bankrate.
The typical home equity line of credit, or HELOC, fell 1 basis point to 4.72 percent.