Rates for home equity lines of credit and home equity loans are near and below 7.5%. Your main decision will be whether you want a variable-rate HELOC or a fixed-rate HEL. Formulating a pay-off plan for either type of second mortgage can help you make the choice. More on that below. HELOC and home equity loan rates: Wednesday, April 1, 2026 Today's national average monthly HELOC adjustable rate is 7.20%. The average fixed rate on a home equity loan is 7.47%, according to data analytics company Curinos. B ...