home equity

National home equity loan rates for Aug. 2, 2012

Interest Rate Roundup
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Home Equity

  • 5.13% (line of credit)
  • 6.39% (loan)

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

The typical home equity loan rose 1 basis point to 6.39 percent. A basis point is one-hundredth of 1 percentage point. The typical home equity line of credit, or HELOC, fell 2 basis points to 5.13 percent.




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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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