Interest rates on HELOCs are just under 8.5% today, making it a good time to use funds from a HELOC to pay off debt or cover large expenses. With over $34 trillion in home equity, homeowners can access value without giving up low-rate mortgages through HELOCs. Rates vary, so shop around for the best deal. Some lenders, like LendingTree, offer rates as low as 6.38% for a credit line of $150,000. HELOCs allow flexibility in borrowing against home equity, with repayment terms and minimum draw amounts varying by lender.

Read more at Yahoo Finance: It could be a good time to get a HELOC