- 4.78% (line of credit)
- 6.15% (loan)
Rates on loans backed by home equity moved down this week, according to Bankrate's latest survey of interest rates.
The typical home equity loan fell 1 basis point to 6.15 percent. A basis point is one-hundredth of 1 percent.
The typical home equity line of credit, or HELOC, plummeted 14 basis points to 4.78 percent. The drop reflects a change in the composition of Bankrate's survey in the Washington, D.C., area.