home equity

Home equity rates for Aug. 21, 2014

 

I'm Greg McBride, chief analyst with Bankrate.com, and here is your weekly look at home equity rates.

Home equity rates jumped, reverting to levels seen earlier in the year. The average home equity line of credit is 4.94 percent, the highest since March, and the fixed-rate home equity loan climbed back to a two-month high of 6.22 percent.

Not to worry, however. You'll still find just as many low rate offers and good deals as you did last week. The movement seen in this week's survey was to confined offers on the upper half of the rate spectrum, most of which moved upward to even less competitive levels.

For more information on home equity loans and home equity lines of credit, and to check home loan rates in your area, go to Bankrate.com.

I'm Greg McBride.

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