home equity

National home equity loan rates for May 16, 2013

By Polyana da Costa • Bankrate.com

Interest Rate Roundup

Find the best home equity rates in your area.

Home Equity

5.12% (line of credit)
6.1% (loan)

Rates on loans backed by home equity fell in Bankrate's weekly survey.

The typical home equity loan fell 2 basis points to 6.1 percent. A basis point is one-hundredth of 1 percentage point.

The typical home equity line of credit, or HELOC, fell 4 basis points to 5.12 percent.

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Polyana da Costa covers mortgages and housing topics for Bankrate.com. She has been interviewed as a real estate expert by various news outlets, including ABC News Radio, CBS Radio and local NBC affiliates. She also has been cited by Forbes.com and quoted by U.S. News & World Report, the Fiscal Times and TheStreet.com among others. Connect with Polyana da Costa on Google+.

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Updated: May 16, 2013

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Compare Home Equity Rates

30K FICO-based HELOC average
5.21%

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Home Equity Averages

Product	Rate	+/-	Last week
$30K HELOC	4.99%		5.00%
$30K home equity loan	6.18%		6.21%
$50K HELOC	4.56%		4.58%
$75K home equity loan	5.97%		6.01%

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