home equity

Home equity rates for March 13, 2014


Rates on loans backed by home equity fell in Bankrate's weekly survey. I'm Doug Whiteman with your weekly look at home equity rates.

The typical home equity loan fell 5 basis points to 6.17 percent.

The average variable-rate home equity line of credit, or HELOC, dropped 10 basis points to 4.97 percent.

With rates on the decline and home prices in many parts of the country on the rise, it's becoming more and more enticing for homeowners to borrow against the value of their home. Keep in mind that with a home equity loan, you get a lump sum of money, which is useful for a renovation or other one-time payment. With a HELOC, you have access to the cash, but only pay interest on the amount borrowed as you use it. This is good for recurring payments like college tuition and other monthly bills.

For more on which home equity product is right for you and to search for the very best home equity rates in your area, visit Bankrate.com. I'm Doug Whiteman.


Show Bankrate's community sharing policy
          Connect with us

Get cost-cutting tips for buying, selling and maintaining your wheels. Delivered monthly.

Partner Center


Chris Kahn

The 4-wheel tradition revs up

We still have a collective interest in conserving gasoline, but so far it hasn't overcome our love of wide, spacious vehicles that can haul a bunch of stuff.  ... Read more

Connect with us