Home equity rates fell today. The average rate on a 30K home equity loan fell, the average rate on a 50K home equity loan fell and the average rate on a 30K FICO-based HELOC fell.

Rates on home equity may fluctuate, but it’s important to remember that they are currently around historic lows. If home improvement is on your to-do list, it’s a good time to be in the market for a loan. Just be sure to shop around for the best home equity rates available.

30K home equity loan rates

The average rate on 30K home equity loans is 4.9% today, down 2 basis point from a week ago.

You’d pay somewhere around $565 per month for a $30,000 fixed-rate home equity loan over a 5-year period.

You can use this monthly payment calculator to estimate your monthly payments on a home equity loan.

50K home equity loan rates

The average rate on 50K home equity loans is 4.07% today, down 2 basis points from a week ago.

You’d pay somewhere around $923 per month for a $50,000 fixed-rate home equity loan over a 5-year period.

30K FICO-based HELOC rates

The rate on a 30K FICO-based HELOC is 4.75% today, down 1 basis point from a week ago.

Keep in mind that home equity lines of credit are a different breed of loan than home equity loans. Think of HELOCs like a credit card. There’s a set limit you can borrow. You withdraw as much as you need, and as you pay off your principal, your credit revolves.

Worst states for foreclosure

While foreclosure filings fell by 8.75% nationally from June to July, there are still some states that are struggling more than others.

Indeed, a rise in home values and equity has pulled many homeowners out from underwater nationwide. Yet, many Americans are still stuck.

Here are the 10 states with the highest foreclosure rate in July.

Follow me on Twitter: @MitchStrohm

You will see these rates listed on Bankrate site averages; these calculations are run after the close of the business day. Included there are rates and/or yields we have collected on the previous day for a specific banking product.