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Home Equity

  • 5.45% (line of credit)
  • 6.62% (loan)

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

The typical home equity loan fell 1 basis point to 6.62 percent. The typical home equity line of credit, or HELOC, was 5.45 percent, unchanged from last week. A basis point is one-hundredth of 1 percentage point.

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