Rates on both home equity borrowing products are similar now, but they're unlikely to remain so for much longer.

While home equity rates have traded in a tight range this month, they are still lower than personal loan rates, which currently average 12.64 percent, and especially credit card rates, which average 20.

Generally, longer-term loans have higher interest rates. According to Ken Flaherty, senior manager of retail lending for financial data firm Curinos, as of the second quarter of 2025, average home equity loan rates ranged from 8.28% to 9.04%, depending on the length of the term.

If you're thinking about tapping your home's equity, make sure you understand what could happen with rates soon.

High summer’s heat may be making home equity rates sleepy. The average rate on a $30,000 home equity line of credit (HELOC) was unchanged at 8.27 percent for the fifth straight week, according to Bankrate’s national survey of lenders. The average rate on the $30,000 home equity loan barely stirred, moving two basis points up to 8.28 percent.

Current home equity loan rates. As of May 28, 2025, the average home equity loan rate is 8.24%, according to Bankrate’s regular survey of rates.

15-Year Home Equity Loan Rates (180 Months) A 15-year term provides lower monthly payments compared to shorter terms, offering more affordability while still progressing toward your financial goals.

At the beginning of 2022, the average rate on a home equity loan was just above 6%, according to Bankrate.By the end of the year it had crept up near 8% and as of September 6, 2023 sits at 8.61%.

Home equity loan rates could drop. If the Fed cuts its benchmark rate, experts say you could expect home equity loan rates to fall. "A Federal Reserve rate cut would certainly be a game-changer ...

On average, home equity loan interest rates start around prime plus 2%; however, a borrower’s interest rate is ultimately based on several factors like income, employment and credit history.

10-Year Home Equity Loan Rates (120 Months) With a 10-year term, borrowers can enjoy a balanced monthly payment while still building equity quickly. 10-year home equity loans are ideal for medium ...

Safely unlock your home's value with these standout lenders and useful tips to help you avoid costly mistakes.