- 4.92% (line of credit)
- 6.16% (loan)
Rates on loans backed by home equity were down, according to Bankrate's weekly survey.
The typical home equity loan was 6.16 percent, down seven basis points from 6.23 percent last week.
A basis point is one-hundredth of one percent.
The typical home equity line of credit, or HELOC, was 4.92 percent, down three basis points from 4.95 percent last week.