HELOC and home equity loan rates Saturday, February 14, 2026: Clinging near 1-year lows

Core Insights - HELOC and home equity loan rates are currently near one-year lows, with the average HELOC rate at 7.23% and home equity loan rate at 7.44% [2][11] - Homeowners with low primary mortgage rates and significant home equity may find it advantageous to obtain a HELOC or home equity loan now [12] Interest Rates Overview - The average HELOC rate is 7.23%, with a 52-week low of 7.19%, while the national average for home equity loans is 7.44%, with a low of 7.38% in early December 2025 [2] - Second mortgage rates, including HELOCs, are based on an index rate plus a margin, often tied to the prime rate, which is currently at 6.75% [4] Lender Flexibility and Shopping - Lenders have flexibility in pricing second mortgage products, making it essential for borrowers to shop around for the best rates based on credit score and debt levels [5] - Introductory rates for HELOCs may be significantly lower than market rates but typically convert to adjustable rates after an initial period [7][8] Loan Structure and Payment - Home equity loans generally have fixed rates, providing stability over the repayment period, while HELOCs may have variable rates that can change [6][9] - For a $50,000 HELOC at a 7.50% interest rate, the monthly payment during the draw period would be approximately $313, but payments may increase during the repayment period [13]