home equity

National home equity loan rates for July 24, 2014

Interest Rate Roundup
Find the best home equity rates in your area.

Home Equity

  • 4.85% (line of credit)
  • 6.1% (loan)

Rates on loans backed by home equity barely budged this week, according to Bankrate's latest survey of interest rates.

The average rate for a home equity loan fell 2 basis points to 6.1 percent. A basis point is one-hundredth of 1 percent.

For the second week in a row, the typical home equity line of credit, or HELOC, was 4.85 percent.

 

 

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Ask Dr. Don

Time to sound HELOC alarm bells?

Dear Dr. Don, I have a variable-rate home equity line of credit, or HELOC, at 2.9 percent. I'd like to convert it to a fixed-rate mortgage. I have 20 years remaining to pay off the home equity line. Would it be beneficial... Read more

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