Mortgage Interest Rates Today for Jul. 21, 2025
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Rates on both home equity borrowing products are similar now, but they're unlikely to remain so for much longer.
While home equity rates have traded in a tight range this month, they are still lower than personal loan rates, which currently average 12.64 percent, and especially credit card rates, which average 20.
Generally, longer-term loans have higher interest rates. According to Ken Flaherty, senior manager of retail lending for financial data firm Curinos, as of the second quarter of 2025, average home equity loan rates ranged from 8.28% to 9.04%, depending on the length of the term.
A $100,000 home equity loan or personal loan could cover big expenses, but one option is far cheaper right now.
Homeowners considering tapping their property’s equity can choose between two products: home equity loans and home equity lines of credit (HELOCs). Both have their pros and cons, but lately, the loans have gotten more popular than their credit line cousins.
Your loan-to-value ratio, or LTV, is another factor lenders consider when deciding whether to approve you for a home equity loan or HELOC. Your LTV is determined by dividing your current mortgage ...
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Refinancing a home equity loan: When and how to do it
Key takeaways Refinancing a home equity loan can lower monthly payments and lengthen or shorten your loan term. Drawbacks to refinancing a home equity loan include prepayment penalties and closing costs.
A home equity loan is a useful way to access your home's equity. With the loan, you borrow against the amount of equity you have and repay the loan in installments.
Personal loans don't require something of value to secure the loan while home equity loans use your home as collateral. Learn which financing method is best for you.
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