The American real estate market is increasingly localized. According to the latest NSA US National Home Price Index from S&P Cotality Case-Shiller, home prices in metropolitan areas across the country are moving in different directions. While metropolitan areas like Denver, Seattle, and Tampa Bay are seeing year-over-year price declines, other metropolitan areas like Chicago, New York, and Cleveland are seeing measurable gains.
The latest price changes should be a call to action for all homeowners across the country who want to lock in a low rate for a home equity loan or home equity line of credit.
HELOC and Home Equity Loan Rates: Wednesday, April 28, 2026
Today’s national average monthly HELOC adjustable rate is 7.24%. The average fixed rate on a home equity loan is 7.37%according to the data analysis company Curinos. Both rates are based on applicants with a minimum credit score of 780 and a maximum combined loan-to-value (CLTV) ratio of 70%.
How HELOC and Home Equity Loan Interest Rates Work
Home equity interest rates are quoted based on a different benchmark than primary mortgage rates. First mortgage rates are based on the 10-year Treasury, while second mortgage rates are based on the prime rate plus a margin. The prime rate is currently 6.75%. If a lender added a margin of 0.75%, the HELOC rate would be 7.50%.
A home equity loan may have a different margin because it is a fixed interest product.
Each lender has its own methodology for pricing second mortgage products, like HELOCs or home equity loans, so it’s worth shopping around. Your rate will depend on your credit score, how much debt you have, and the amount of your line of credit relative to the value of your home.
And average national HELOC rates can include super-low “introductory” rates that can last six months or a year. After that, your interest rate will become variable, probably starting at a substantially higher rate.
Again, because a home equity loan has a fixed rate, it is unlikely to have a “promotional” introductory rate.
FURTHER: Read our guide to the best home equity loan lenders.
How to Choose the Best HELOC or HEL Lender
The best HELOC lenders offer low fees, a fixed-rate option, and generous lines of credit. A HELOC allows you to easily use your home equity in any way and in any amount you choose, up to the limit of your line of credit. Take out a little; return it. Repeat.
Today, FourLeaf Credit Union offers a 5.99% HELOC rate for 12 months on lines up to $500,000. This is an introductory rate that will convert to a variable rate as low as 6.75% in one year. When shopping for lenders, keep both rates in mind.
The best home equity loan lenders may be easier to find because the fixed rate you earn will last the entire repayment period. That means just one rate to focus on. And you will receive a lump sum, so there are no withdrawal minimums to consider.
And as always, compare rates and the fine print of payment terms.
Home Equity Rates Today: Frequently Asked Questions
What is a good interest rate for a HELOC or HEL right now?
Rates vary significantly from lender to lender, making it difficult to pinpoint a single, definitive figure. The current national average for a HELOC is 7.24% and 7.37% for a home equity loan. These can serve as a starting point when comparing rates from second mortgage lenders.
Is it a good idea to get a HELOC or home equity loan right now?
It’s probably a good idea to consider a HELOC or home equity loan now. You don’t give up that low primary mortgage rate you’re paying on your home and you can use the cash taken out of your equity for things like home improvements, repairs and upgrades. Almost anything, really.
What is the monthly payment on a $50,000 home equity line of credit?
If you withdraw the entire $50,000 from a home equity line of credit and pay an interest rate of 7.25%, your monthly payment over the 10-year withdrawal period would be approximately $302. That sounds good, but remember that with a HELOC the rate is usually variable, so it changes periodically and your payments will increase over the 20-year repayment period. A HELOC essentially becomes a 30-year loan.