The national average HELOC rate is following the prime rate, now at 6.75% after the Federal Reserve’s rate cut. According to Curinos data, the average weekly HELOC rate is 7.44%. Homeowners hold nearly $36 trillion in home equity, the most on record. HELOC interest rates are different from primary mortgage rates, with lenders adjusting pricing. Best HELOC lenders offer low fees and fixed-rate options. Rates vary from 6% to 18% based on creditworthiness. This may be the best time for homeowners to obtain a HELOC with low primary mortgage rates and significant equity.

Read more at Yahoo Finance: Moving lower with the prime rate