A home equity line of credit, or HELOC, is a second mortgage that uses your home as collateral to let you borrow up to a certain amount over time, rather than an upfront lump sum.
- Mortgage refinancing
- Mortgage rate trends
- Housing market
- Real estate
- Bachelor of Science, University of Illinois at Urbana-Champaign
- Master of Arts, University of Illinois at Springfield
About the author
Jeff Ostrowski has closely covered two nationwide housing booms and one devastating bust. Before joining Bankrate in 2020, he spent more than 20 years writing about real estate, business, the economy and politics. He previously worked as a reporter at the Palm Beach Post and the South Florida Business Journal.
Since 2019, Jeff has served on the board of the nonprofit National Association of Real Estate Editors. He twice has won gold awards in the group’s journalism contest. His Bankrate coverage of housing affordability was also honored with a Best in Business award from the Society for Advancing Business Editing and Writing.
When he’s not working, Jeff enjoys surfing, biking and traveling, usually with a surfboard or bike.
Jeff beyond Bankrate
Jeff wants you to know
When you’re applying for a mortgage, shop around and do your homework — informed borrowers can save thousands of dollars over the life of their loan. Don’t fixate on finding the absolute perfect option, though, or timing your loan to a low point for mortgage rates. If you’re borrowing now, mortgage rates could go down in the future. Avoid worrying about all those things that are both out of your control and impossible to predict.
Jeff's latest articles
Feb 21, 2024
Get current home equity interest rates and recent rate trends, every week, from Bankrate.com.Feb 21, 2024
A home equity loan lets you borrow against your home’s value. To find the best loan for you, compare loan rates with a few lenders before applying.Feb 21, 2024
The average 30-year fixed mortgage rate was 7.13 percent as of Feb. 21, 2024.3 min read Feb 21, 2024
Find and compare 30-year mortgage rates and choose your preferred lender. Check rates today to learn more about the latest 30-year mortgage rates.Feb 21, 2024
A HELOC works like a big credit card — one that uses your home as collateral for cash you borrow.13 min read Feb 12, 2024
Yes, the housing market has cooled. But experts agree that a crash is not imminent.9 min read Feb 11, 2024
A 5/1 ARM is a common type of adjustable-rate mortgage.7 min read Feb 09, 2024
They both related to property ownership, but one is a physical thing and the other is abstract.4 min read Mar 16, 2023
A tug of war is playing out in the mortgage market. Inflation is pushing rates up, while fears of a recession are pulling them back down.5 min read Jun 01, 2022
Until inflation is tamed, mortgage rates are likely to keep rising.4 min read May 01, 2022