HELOC rates are dropping, with the national average at 7.64%. Homeowners have over $34 trillion in home equity. Consider a HELOC to access your equity without giving up your low mortgage rate. Rates can vary from below 6% to 18%, so shop around. LendingTree offers a HELOC with a 6.24% APR.

The power of a HELOC is the ability to borrow what you need and leave the rest available for future use. With rates ranging from just below 6% to 18%, it’s crucial to compare fees and terms. For homeowners with low mortgage rates and equity, now is a great time to consider a HELOC.

If you withdraw $50,000 at a 7.50% interest rate, expect a monthly payment of around $313 during the 10-year draw period. Remember, rates are variable, so payments may increase during the 20-year repayment period. HELOCs are best for borrowing and repaying within a shorter timeframe.

Read more at Yahoo Finance: Hitting new lows for 2025