HELOC interest rates decrease as lenders compete, making it a good time for homeowners to borrow

From Yahoo Finance: 2025-06-10 06:00:00

HELOC interest rates dip slightly lower today as lenders compete for demand. Average monthly payment to borrow $50,000 drops from $412 to $311. Zillow reports 10-year HELOC rates at 6.83%, VA-backed HELOCs at 6.39%. Homeowners hold over $34 trillion in home equity, the third-largest amount on record.

Second mortgage rates are often lower than prime rate plus margin. Rates depend on credit score, debt amount, and credit line value. National average HELOC rates can include introductory rates lasting six months or a year. Keep low-rate mortgage and use HELOC for added value.

Best HELOC lenders offer low fees, fixed-rate options, and generous credit lines. Use HELOC to access home equity easily and pay back as needed while paying down primary mortgage. Shop lenders for best rates and terms. Tap into your equity wisely and build wealth effectively.

FourLeaf Credit Union offers 6.49% HELOC rate for 12 months on lines up to $500,000. Intro rate converts to variable later. Compare rates, fees, repayment terms, and minimum draw amount. HELOC power lies in tapping only what you need and leaving the rest for future use without interest payments.

HELOC rates range from nearly 7% to 18%, depending on creditworthiness and lender. With low primary mortgage rates and equity, now is a great time for a HELOC. Use cash for home improvements, repairs, upgrades, or fun things. Pay off promptly to avoid long-term debt and enjoy financial flexibility.

Read more: Interest rates on home equity lines of credit ease lower