HELOC and home equity loan rates today, February 10, 2026: How to keep your low-rate home loan while tapping equity

Core Insights - Home equity lines of credit (HELOC) and home equity loan (HEL) rates are currently slightly above their 52-week lows, making them attractive options for homeowners looking to access equity without refinancing their primary mortgage [1][4] Group 1: Current Rates and Trends - The average HELOC rate has decreased to 7.23%, with a 52-week low of 7.19% recorded in mid-January [2] - The national average for home equity loans stands at 7.44%, with a 52-week low of 7.38% noted in early December [2] - Rates are determined based on a minimum credit score of 780 and a combined loan-to-value ratio (CLTV) of less than 70% [2] Group 2: Product Comparison - A HELOC allows homeowners to draw cash as needed, while a home equity loan provides a lump sum [3] - Home equity interest rates differ from primary mortgage rates, typically based on an index rate plus a margin, with the current prime rate at 6.75% [5] - Lenders have flexibility in pricing second mortgage products, making it essential for borrowers to shop around for the best rates [6] Group 3: Lender Considerations - Some lenders offer below-market introductory rates for HELOCs, which may only last for a limited time before converting to a variable rate [6][9] - Home equity loans generally do not have introductory rates, providing a fixed interest rate throughout the repayment period [7][12] - It is important to consider minimum draw amounts for HELOCs, as some lenders may require a significant initial draw [11] Group 4: Usage and Recommendations - Homeowners with low primary mortgage rates and significant equity may find it beneficial to consider a HELOC or HEL for home improvements or other expenses [14] - The national average rates for HELOCs and HELs can serve as a benchmark when comparing offers from different lenders [13]