If you have a cash need and want to tap the equity in your home, a second mortgage can provide you with a variable-rate credit line or a fixed-interest home equity loan. The best home equity lenders offer you a choice: a draw-it-as-you-need-it HELOC or a lump-sum HEL. HELOC and home equity loan rates: Monday, April 13, 2026 The average HELOC adjustable rate is 7.24%, according to real estate data analytics company Curinos. The national average fixed rate on a home equity loan is 7.37%. Both rates are ba ...