- 5.12% (line of credit)
- 6.1% (loan)
Rates on loans backed by home equity fell in Bankrate's weekly survey.
The typical home equity loan fell 2 basis points to 6.1 percent. A basis point is one-hundredth of 1 percentage point.
The typical home equity line of credit, or HELOC, fell 4 basis points to 5.12 percent.
Source: http://www.bankrate.com/finance/home-equity/rate-roundup.aspx
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