HELOC rates in the U.S. stay the same as homeowners consider tapping into their equity.

The national average HELOC interest rate remains steady as Americans prepare for a patriotic holiday. Homeowners are considering HELOCs to finance outdoor projects and upgrades, taking advantage of the low primary mortgage rate.
Bank of America reports the current average rate for a 10-year draw HELOC is 8.90%, with a variable rate after a 6.49% introductory period. Home equity in the U.S. reached over $34 trillion in 2024, providing ample opportunity for homeowners to tap into their equity without refinancing their primary mortgage.
Lenders offer flexibility in pricing for HELOCs, with rates based on an index rate plus a margin. Introductory rates may only last for a limited time, so it’s essential to compare fees and repayment terms when shopping for a HELOC.
FourLeaf Credit Union is offering a 6.49% introductory rate on HELOCs up to $500,000 for 12 months. The appeal of a HELOC lies in the ability to use only what is needed, leaving the credit line open for future expenses without accruing interest on unused funds.
Homeowners with low primary mortgage rates and substantial equity may find now to be an ideal time to secure a HELOC for various expenses, including home improvements or vacations. However, it’s crucial to use a HELOC responsibly and pay off balances promptly to avoid long-term debt.

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