home equity

National home equity loan rates for Nov. 23, 2011

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Home Equity

  • 5.45% (line of credit)
  • 6.74% (loan)

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

The typical home equity loan fell 5 basis points to 6.74 percent. A basis point is one-hundredth of 1 percentage point . The typical home equity line of credit, or HELOC, fell 7 basis points to 5.45 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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