HELOC Rates Average 7.24% Amid Fed's Stance on 6.75% Prime Rate

The average rate for Home Equity Lines of Credit (HELOC) is currently 7.24%, while the national average for home equity loans stands at 7.37%. The Federal Reserve's prime rate remains unchanged at 6.75%, with expectations of maintaining this rate through the end of 2026, possibly even increasing it due to inflationary pressures. Earlier this year, HELOC rates hit a 52-week low of 7.19% in January. Homeowners may feel restricted in accessing their equity due to existing mortgage rates around 6%.