The average HELOC rate is currently at 7.75%, offering homeowners a way to access the value in their homes. With over $34 trillion in home equity at the end of 2024, it’s the third-largest amount on record. While mortgage rates remain above 6%, a HELOC provides an alternative to tapping into home equity without giving up a low mortgage rate. HELOC interest rates are different from primary mortgage rates, with pricing flexibility and introductory rates that may adjust later. The best HELOC lenders offer low fees and credit lines up to $500,000. Rates can vary widely depending on creditworthiness and lender.

Read more at Yahoo Finance: Rates improve as the prime rate falls