Interest rates on home equity lines of credit (HELOCs) and home equity loans are holding firm near 7.5% or lower. With Federal Reserve interest rate cuts on the shelf, second mortgage rates aren't expected to drop much anytime soon. HELOC and home equity loan rates: Sunday, February 1, 2026 The average HELOC rate is 7.25%, according to real estate analytics firm Curinos. The national average rate on a home equity loan is 7.56%. Both rates are based on applicants with a minimum credit score of 780 and a ...