home equity

Home equity rates for Aug. 29, 2013

 

I'm Doug Whiteman with Bankrate.com and here is your weekly look at home equity rates.

There weren't many changes in home equity rates this week, but what action we did see was enough to push home equity rates to recent lows. The average rate on a home equity line of credit dropped to a new nine-year low point of 4.95 percent, while the fixed-rate home equity loan pulled back to the lowest level since March at 6.08 percent.

With home prices rising, homeowners are finding themselves with equity they haven't had in several years, if ever. And the timing is great, as rates for both home equity loans and lines of credit remain at very attractive 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 Doug Whiteman.

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