Modest shifts leave home equity rates largely steady

A mixed performance for home equity rates this week, holding near their lowest levels in about three years. The $30,000 home equity line of credit rose one basis point to 7.32%, according to Bankrate’s national survey of lenders. Meanwhile, the five-year $30,000 home equity loan fell two basis points to 7.87%. With home equity borrowing costs still relatively affordable, the decision to borrow against your home’s value depends on a homeowner’s individual situation, says Tom Hutchens, president of Angel O ...