HELOC 7.84% and home‑equity loan 8.15% hit two‑year lows
Bankrate’s weekly survey shows the average HELOC rate fell to 7.84% (down 5 basis points) and the benchmark five‑year $30,000 home‑equity loan rate dropped to 8.15% (down 6 basis points), marking the lowest levels since 2023 and new two‑year lows. The declines are partly attributed to the Federal Reserve’s first rate cut of 2025 and easing longer‑term borrowing costs.
Economy
Personal Finance
Finance
📌 Key Facts
- Bankrate’s weekly survey shows the average HELOC rate at 7.84%, down 5 basis points this week.
- The benchmark five‑year $30,000 home‑equity loan average fell to 8.15%, down 6 basis points this week.
- Both the HELOC and five‑year home‑equity loan averages are at their lowest levels since 2023, marking a two‑year low.
- The report attributes the declines partly to the Federal Reserve’s first rate cut of 2025 and easing longer‑term borrowing costs.
- These findings were reported by CBS MoneyWatch (Facebook post titled "HELOC, home equity loan interest rates are falling again. Is now the time for owners to act?" on 2025-10-09), citing Bankrate’s weekly survey.
📰 Sources (2)
HELOC, home equity loan interest rates are falling again. Is now the time for owners to act?
New information:
- Bankrate’s weekly survey shows the average HELOC rate at 7.84%, down 5 basis points this week.
- The benchmark five‑year $30,000 home‑equity loan average fell to 8.15%, down 6 basis points.
- Both metrics are at their lowest levels since 2023, indicating a new two‑year low.
- Article attributes the declines partly to the Fed’s first rate cut of 2025 and easing longer‑term borrowing costs.