As of July 9, 2025, the average home equity loan rate is 8.26%, according to Bankrate’s regular survey of rates. The average range is between 5.49% and 10.47%. Home equity loan interest rates also vary according to term length: These rates are relatively flat compared to those of the previous week.

State Bank of India has reduced its marginal cost of funds-based lending rates (MCLR) across all tenures, effective July 15, 2025. The cuts, up to 25 basis points, bring MCLR rates to a range of 7.95% to 8.

Savvy homeowners can take advantage of the lull in the home equity borrowing climate by making these three moves now.

Homeowners considering tapping their property’s equity can choose between two products: home equity loans and home equity lines of credit (HELOCs). Both have their pros and cons, but lately, the loans have gotten more popular than their credit line cousins.

One major difference between Discover and Rocket Mortgage (aside from only the former listing its rates online) is that Discover doesn't charge lender fees or closing costs on home equity loans. Based on Rocket's average rates, even a minimum $45,000 home equity loan could be saddled with 6% in closing costs on top of a $99 origination fee.

If you’re contemplating tapping your home equity, you’re not alone: Almost 30% of homeowners say they would consider borrowing against their residence’s value, according to a new survey from

Your credit score has a big impact on how easily and affordably you can borrow money - yet many people have no idea how it's calculated. Money experts explain what it is and how you can improve it.