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

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 4.93% today, up 1 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 4.09% 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 4.76% today, down 4 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.

Using home equity as retirement savings

The ability to access home equity can save a retiree from running short on cash or being forced to sell stocks, bonds and other investments when the market is lousy.

Here are 6 ways to turn home equity into retirement savings
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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.