What are today's HELOC and home equity loan interest rates?
As of April 30, 2026, average home equity loan and HELOC interest rates are 6.96% and 7.11% respectively, making them lower-cost borrowing options compared to credit cards and personal loans. These rates vary by location, lender, and credit profile, and both products allow homeowners to leverage their equity with potential tax benefits for home improvements. While rates may decline further if the Federal Reserve cuts rates, homeowners should carefully compare offers and understand the risks of using their home as collateral.
- ▪The average home equity loan interest rate as of April 30, 2026, is 6.96%, while the average HELOC rate is 7.11%.
- ▪Home equity loans provide a lump sum with a fixed interest rate, whereas HELOCs offer a revolving line of credit with variable rates and interest-only payments during an initial draw period.
- ▪Interest from home equity loans or HELOCs may be tax-deductible if funds are used for IRS-eligible home renovations.
- ▪Borrowers should shop around as rates and terms vary by lender, location, and individual creditworthiness.
- ▪Using home equity products puts the home at risk of foreclosure if payments are not made as agreed.
- ▪Because the home serves as collateral, borrowers must carefully assess their financial situation before taking on a HELOC or home equity loan.
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MoneyWatch: Managing Your Money What are today's HELOC and home equity loan interest rates? We may receive commissions from some links to products on this page. Promotions are subject to availability and retailer terms. .chip { background-image: url('/fly/bundles/cbsnewscore/images/chip-bgd/chip-bgd-moneywatch.jpg'); } By Matt Richardson Matt Richardson Sr. Managing Editor, Managing Your Money Matt Richardson is the senior managing editor for the Managing Your Money section for CBSNews.com. He writes and edits content about personal finance ranging from savings to investing to insurance.
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