home equity

Home equity loan rates for Oct. 4, 2012

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

Home Equity

  • 5.15% (line of credit)
  • 6.28% (loan)

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

The typical home equity loan fell 5 basis points to 6.28 percent. A basis point is one-hundredth of 1 percentage point.

The typical home equity line of credit, or HELOC, was 5.15 percent, the same as last week.

 

 

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HOME EQUITY STRATEGIES & ADVICE NEWSLETTER

Advice for homeowners looking for options to use their home’s equity wisely. Delivered monthly.

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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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