- 5.02% (line of credit)
- 6.12% (loan)
Rates on loans backed by home equity fell in Bankrate's weekly survey.
The typical home equity loan dropped 10 basis points to 6.12 percent. A basis point is one-hundredth of 1 percentage point.
The typical home equity line of credit, or HELOC, fell 2 basis points to 5.02 percent.