HELOC rates today, November 14, 2025: A buyer's market in home equity

Core Insights - The national average HELOC rate is currently below 8%, with a prime rate of 7% leading to a decline in interest rates for home equity lines of credit [1] - The average weekly HELOC rate is 7.64%, down 40 basis points since January, indicating a favorable borrowing environment for homeowners [2] - Homeowners have over $34 trillion in home equity, the third-largest amount on record, suggesting significant potential for HELOC utilization [2] HELOC Rates and Trends - HELOC interest rates are influenced by the prime rate, which is currently at 7.00%, and lenders may add a margin to determine the final rate [4] - Lenders have flexibility in pricing HELOCs, and rates can vary based on credit score, debt levels, and loan-to-value ratios [5] - Introductory offers for HELOCs can be attractive, but borrowers should be cautious of future rate adjustments after the initial period [8] HELOC Functionality - A HELOC allows homeowners to access equity without refinancing their primary mortgage, providing a flexible borrowing option [6] - Borrowers can draw from their HELOC as needed, only paying interest on the amount borrowed, which can be beneficial for managing cash flow [9] - The structure of HELOCs typically involves a draw period followed by a repayment period, making them suitable for short-term borrowing needs [13] Current Market Conditions - The current market conditions favor homeowners with low primary mortgage rates, making it an opportune time to consider a HELOC for various financial needs [12] - Monthly payments on a HELOC can vary significantly based on the amount borrowed and the interest rate, highlighting the importance of understanding repayment terms [13]