home equity

National home equity loan rates for Dec. 8, 2011

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

Home Equity

  • 5.49% (line of credit)
  • 6.78% (loan)

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

The typical home equity loan was 6.78 percent, the same as last week. The typical home equity line of credit, or HELOC, fell 1 basis point to 5.49 percent. A basis point is one-hundredth of 1 percentage point.

 

 

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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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