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American Focus > Blog > Economy > The home equity line of credit rate remains unchanged
Economy

The home equity line of credit rate remains unchanged

Last updated: July 5, 2025 8:20 pm
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The home equity line of credit rate remains unchanged
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The national average HELOC interest rate remains steady as Americans celebrate a patriotic holiday. Many homeowners are considering a home equity line of credit to finance their dreams of outdoor kitchens, sparkling pools, or other home improvements. HELOCs offer a flexible way to access the equity in your home without refinancing your primary mortgage.

According to Bank of America, the current average rate for a 10-year draw HELOC is 8.90%, with a variable rate that kicks in after a six-month introductory rate of 6.49%. With over $34 trillion in home equity in the United States, homeowners have a significant amount of value tied up in their properties. Instead of selling their homes to access this equity, many are turning to HELOCs as a viable alternative.

HELOC interest rates are different from primary mortgage rates and are based on an index rate plus a margin. Lenders have flexibility in pricing second mortgage products like HELOCs, so it’s crucial to shop around for the best rates and terms. Some lenders may offer introductory rates that last for a limited time before converting to an adjustable rate.

The best HELOC lenders provide low fees, fixed-rate options, and generous credit lines. With a HELOC, you can access your home equity as needed, up to your credit line limit. This flexibility allows you to borrow, repay, and borrow again as needed, all while paying down your low-interest primary mortgage.

Today, FourLeaf Credit Union is offering a competitive HELOC rate of 6.49% for 12 months on lines up to $500,000. When comparing lenders, be sure to consider both introductory and variable rates, as well as any fees, repayment terms, and minimum draw amounts. The power of a HELOC lies in its ability to access only what you need and leave the rest of your credit line available for future use.

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Rates for HELOCs can vary widely, depending on your creditworthiness and the lender. For homeowners with low primary mortgage rates and equity in their homes, now may be an excellent time to consider a HELOC. Whether you’re looking to fund home improvements, repairs, or even a vacation, a HELOC can provide the cash you need without sacrificing your favorable mortgage rate.

Before taking out a HELOC, it’s essential to understand the terms and repayment schedule. While monthly payments may seem manageable, keep in mind that HELOCs typically have a long repayment period, potentially extending the life of your debt. To make the most of a HELOC, borrow only what you need and aim to pay off the balance as quickly as possible.

TAGGED:Creditequityhomelinerateremainsunchanged
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