- 5.51% (line of credit)
- 7.16% (loan)
Here’s a look at the state of home equity rates from Bankrate.com’s weekly national survey of large banks and thrifts conducted Dec. 29, 2010.
Home equity-backed loans showed slight movement in the last week.
The average home equity line of credit, or HELOC, was unchanged at 5.51 percent.
The average home equity loan, however, rose 3 basis points to settle at 7.16 percent. A basis point is one-hundredth of 1 percent.
See all home equity loan rates content.
— Gregg Fields