The national average HELOC rate is 7.75%, with rates steadily decreasing. Homeowners have over $34 trillion in home equity. Mortgage rates are around 6%, making keeping your primary mortgage an attractive option. HELOC rates are different from primary mortgage rates and can vary widely. FourLeaf Credit Union offers a 5.99% HELOC rate for 12 months. It’s crucial to compare rates, fees, and repayment terms when considering a HELOC. The power of a HELOC lies in using only what you need and leaving the rest for future needs. Rates can range from 6% to 18% based on creditworthiness and lender. Now is a great time for homeowners with low mortgage rates to consider a HELOC for home improvements or other needs. A $50,000 HELOC at 7.75% interest would result in a $323 monthly payment during the draw period, but payments will increase during the repayment period. HELOCs are best for short-term borrowing and repayment.

Read more at Yahoo Finance: HELOC rates today, October 27, 2025: Moving steadily lower