HELOC rates today average nationally from 8.05% to 9.59%. Lenders usually base home equity line of credit rates on the prime rate, plus a margin. If the Federal Reserve lowers short-term interest rates next week, HELOC costs could decline. Dig deeper: Is now a good time to take out a HELOC? HELOC rates Wednesday, September 10, 2025 According to Bank of America, the largest HELOC lender in the country, today's average APR on a 10-year draw HELOC remains 8.72%. That is a variable rate that kicks in after ...

If you have a significant goal, like paying off credit card debt or renovating your kitchen, you may be interested in tapping into your home equity to help you afford it. You can access your home equity — what your property is worth minus what you still owe on it — in several ways, including taking out a second mortgage or refinancing your existing mortgage loan. What is a second mortgage? A second mortgage is exactly how it sounds. You take out another home loan on your residence — in addition to your ...