HELOC rates remain favorable, with an average APR of 8.72% from Bank of America. Homeowners have over $34 trillion in home equity, making a HELOC a viable option. Second mortgage rates are based on an index rate plus a margin, with flexibility in pricing. Best HELOC lenders offer low fees, fixed-rate options, and generous credit lines. FourLeaf Credit Union is offering a 6.49% introductory rate on HELOCs up to $500,000. Rates vary widely from 7% to 18% depending on creditworthiness. It’s a great time for homeowners with low mortgage rates to consider a HELOC for home improvements or other expenses.

Read more at Yahoo Finance: The answer to high rates for homeowners