HELOC rates today, November 1, 2025: Rates improve as the prime rate falls

Core Insights - The average HELOC rate is currently 7.75%, showing a decrease of 31 basis points since January 2025 [2] - Homeowners have over $34 trillion in home equity, the third-largest amount on record, making HELOCs an attractive option for accessing this value without selling their homes [3] - Lenders determine HELOC rates based on an index rate plus a margin, with the prime rate currently at 7.00% [4] HELOC Rates and Trends - The average weekly HELOC rate is 7.75%, with the highest rate in January 2025 [2] - Rates can vary significantly among lenders, ranging from nearly 6% to as high as 18%, depending on creditworthiness [11] - Introductory rates, such as 5.99% for 12 months offered by FourLeaf Credit Union, can convert to variable rates later [8] Home Equity Utilization - HELOCs allow homeowners to access their home equity without giving up low-rate primary mortgages, making them a flexible financial tool [6] - Homeowners can withdraw only what they need from their HELOC, avoiding interest on unused credit [9] - The average monthly payment for a $50,000 HELOC at a 7.50% interest rate would be approximately $313 during the draw period [13] Considerations for Borrowers - Homeowners with low primary mortgage rates and significant equity may find it an opportune time to obtain a HELOC for various uses, including home improvements or personal expenses [12] - It is essential for borrowers to compare fees, repayment terms, and minimum draw amounts when shopping for HELOCs [5][8]