May 19, 2025 / 10:52 AM EDT / CBS News Lenders tend to offer differing rates for home equity loans and HELOCs — and there are a few drivers behind that trend. Getty Images ...

Home equity loan and HELOCs rates are based on a benchmark interest rate (the “index”), plus an additional amount set by the lender (the “margin”).

Which is the better financial move? See this breakdown of the differences, requirements and pros and cons so you can choose.

Currently, the average credit card interest rate sits close to 23% while the average home equity loan interest rate is just 8.44% (as of January 31).

Home Loan Rates Inch Higher for Borrowers: Mortgage Interest Rates Today for July 21, 2025 Experts say homebuying activity will increase as mortgage rates fall, but that might not happen for a while.

15-Year Home Equity Loan Rates (180 Months) A 15-year term provides lower monthly payments compared to shorter terms, offering more affordability while still progressing toward your financial goals.

10-Year Home Equity Loan Rates (120 Months) With a 10-year term, borrowers can enjoy a balanced monthly payment while still building equity quickly. 10-year home equity loans are ideal for medium ...

Plus, in today’s unaffordable housing market, mortgage rates are just one piece of the puzzle. Prospective buyers still have to contend with high home prices and skyrocketing homeownership expenses.

The post Mortgage Applications Today: Home Loan Demand Falls by 10% After Mortgage Interest Rates Rise appeared first on Real Estate News & Insights | realtor.com®.

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