- 5.05% (line of credit)
- 6.29% (loan)
Rates on loans backed by home equity were mixed in Bankrate's weekly survey.
The average rate for a typical $30,000 home equity loan rose 7 basis points to 6.29 percent. A basis point is one-hundredth of 1 percentage point.
On the other hand, the average rate for a typical $30,000 home equity line of credit, or HELOC, fell 1 basis point to 5.05 percent.
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- basis points