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

Home equity rates 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 4.92% today, unchanged 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 4.11% today, up 1 basis point 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, up 2 basis points 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.

Fixed-rate HELOC

With a HELOC, the interest rate is variable. That means the rate you pay on interest can move up.

But some banks are starting to offer a hybrid – a HELOC with a fixed rate.

HELOCs with a fixed-rate option has appeal to homeowners taking on renovation projects. By locking in a rate, they won’t have to worry about rising interest rates.

Here’s what a fixed-rate HELOC means for you.

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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.