Rates for home equity lines of credit (HELOCs) and home equity loans are currently over 7.5%, making them the most affordable in a long time. The national average monthly HELOC rate is 7.44%, while the average rate for a home equity loan is 7.59%. Homeowners have nearly $36 trillion tied up in their houses, the highest amount of home equity ever reported. With mortgage rates near 6%, homeowners are unlikely to sell their homes. Accessing home equity with a second mortgage can be a good alternative, but rates depend on credit score and other factors. Shop around for the best rates on HELOCs and home equity loans, as they can vary significantly.

Read more at Yahoo Finance: A price break for tapping a home’s value