Daily HELOC rates on July 2, 2024: Rates are steady
“Verified by an expert” means that this article has been thoroughly reviewed and evaluated for accuracy.
BLUEPRINT
Published 5:50 a.m. UTC July 2, 2024
Editorial Note: Blueprint may earn a commission from affiliate partner links featured here on our site. This commission does not influence our editors' opinions or evaluations. Please view our full advertiser disclosure policy.
ljubaphoto, Getty Images
Home equity line of credit (HELOC) rates are trending about the same across the board. Here are today’s average rates on a $100,000 HELOC based on different loan-to-value ratios:
- 60% LTV ratio: 9.13%
- 80% LTV ratio: 9.31%
- 90% LTV ratio: 10.18%
Today’s HELOC rates
*Data accurate as of July 1, 2024, the latest data available.
Current HELOC rate trends
Here is the average annual percentage rate (APR) for a $100,000 HELOC at different LTV ratios — 60%, 80% and 90%.
HELOC rates: 60% LTV ratio
Today’s average HELOC rate is 9.13% with a 60% LTV ratio, which is about the same as last week at 9.14%, according to data from Curinos. This is a decrease from last month's 9.15%.
Before you borrow, compare the best HELOC lenders
HELOC rates: 80% LTV ratio
The HELOC rate today for a borrower with an LTV ratio of 80% sits at 9.31%. This means it fell from 9.32% last week, according to data from Curinos. Last month, the rate was at 9.32%.
HELOC rates: 90% LTV ratio
The average HELOC rate if you have an LTV ratio of 90% is the same as last week at 10.18%, according to data from Curinos. This is up from last month's 10.11%.
Frequently asked questions (FAQs)
A good HELOC rate is generally considered to be a rate lower than the national average — 9.60% today. Keep in mind that the better your credit and income are, the lower your rate could be.
Note that HELOC rates also usually go up if the Federal Reserve raises the federal funds benchmark rate.
Repayment terms for HELOCs typically range from five to 30 years. This generally comprises a draw period of up to 10 years and then up to 20 years to repay what you’ve borrowed.
During the COVID-19 pandemic, many banks stopped offering HELOCs due to uncertainty surrounding the economy. However, numerous banks have resumed offering HELOCs to customers today.
Blueprint is an independent publisher and comparison service, not an investment advisor. The information provided is for educational purposes only and we encourage you to seek personalized advice from qualified professionals regarding specific financial decisions. Past performance is not indicative of future results.
Blueprint has an advertiser disclosure policy. The opinions, analyses, reviews or recommendations expressed in this article are those of the Blueprint editorial staff alone. Blueprint adheres to strict editorial integrity standards. The information is accurate as of the publish date, but always check the provider’s website for the most current information.
