The Home Equity Loan Conundrum: Rate Hikes and Borrower Caution The housing market's struggle with inflation has led to rising interest rates on home equity loans and lines of credit.
According to recent data, the average HELOC adjustable rate has surged to 7. 23%, while fixed rate home equity loan rates have climbed to 7. 36%.
Homeowners with significant equity in their homes may be tempted to tap into this readily available cash for renovations, repairs, or debt consolidation.