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HELOC rates todayYahoo Finance
•Business
Business & Economics
72% Informative
Rates on a 10-year HELOC are up 12 basis points to 6.85% today .
Rates vary so much from one lender to the next that it's hard to pin down a magic number.
LendingTree is offering a HELOC rate of 6.50% for a credit line of $ 150,000 .
If you take out the full $ 50,000 from a line of credit on a $ 400,000 home, your payment may be around $395 per month with a variable interest rate beginning at 8.75% . That's for a HELOC with a 10-year draw period and a 20-year repayment period. That sounds good, but remember, it winds up being a 30-year loan. HELOCs are best if you borrow and pay back the balance in a much shorter period of time..
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