The Home Equity Line of Credit Market: A Tale of Two Rates The recent news about Truist being named the top HELOC lender highlights an often overlooked aspect of homeownership: tapping into home equity without sacrificing a low primary mortgage rate.
According to Yahoo Finance, while rates are indeed competitive, there's more to consider than just interest rates. The average national HELOC rate is 7.
21%, which might seem like a bargain compared to primary mortgage rates hovering around 6%. However, this rate has been relatively stable since mid January, with a brief dip in March to 7. 19%.