home equity

National home equity loan rates for July 19, 2012

Interest Rate Roundup
Home equity loan rate graph
Find the best home equity rates in your area.

Home Equity

  • 5.16% (line of credit)
  • 6.42% (loan)

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

The typical home equity loan rose 3 basis points to 6.42 percent. A basis point is one-hundredth of 1 percentage point. The typical home equity line of credit, or HELOC, also rose 3 basis points to 5.16.

 

 

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Use home loan for college costs?

Dear Dr. Don, We have owned our home for five years. It's currently valued at $325,000. We'd like to borrow $50,000 to $70,000 for college costs. Can we take out a second mortgage at a lower interest rate, or must we take... Read more

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