home equity

National home equity loan rates for June 28, 2012

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

Home Equity

  • 5.17% (line of credit)
  • 6.42% (loan)

Rates on home equity loans and lines of credit dropped in Bankrate's weekly survey.

The typical home equity loan fell 2 basis points to 6.42 percent. A basis point is one-hundredth of 1 percent. The typical home equity line of credit, or HELOC, fell 4 basis points to 5.17.

 

 

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Ask Dr. Don

HELOC vs. reverse mortgage?

Dear Senior Living Adviser, If you have a home equity line of credit , or HELOC, for $150,000 with no balance on it, should you use it instead of a reverse mortgage? Which is a better way to save the assets if there is... Read more


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