HELOC Rates Drop, Home Equity Soars
Update: 2025-11-15
Description
Discover the current HELOC interest rates, averaging 7.64%, with a slight decrease since October. Explore introductory rates, often lower for a set period. Homeowners hold over $34 trillion in equity, with many hesitant to sell due to high mortgage rates. Accessing equity through a HELOC can be a smart alternative, allowing homeowners to tap into their propertys value without refinancing. Lenders determine HELOC rates based on an index rate, often the prime rate, plus a margin. When shopping for a HELOC, compare initial and variable rates, fees, repayment terms, and minimum draw requirements.
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