Brian McKay
Brian McKay
Co-Founder & Lead Data Architect- Automated Online Rate Data Aggregation
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Average HELOC Rate Rises to 7.214% and Home Equity Loan Rate to 6.913%
The average HELOC rate rose 0.006 percentage points to 7.214% APR between November 4 and November 10, and the average home equity loan rate rose 0.008 percentage points to 6.913%. The prime rate remains 7.00%.
The average HELOC rate rose 0.006 percentage points to 7.214% APR between November 4 and November 10, from 7.208%, and the average home equity loan rate rose 0.008 percentage points to 6.913%, from 6.905%. The prime rate was 7.00% on both dates. A HELOC rate changes when the prime rate changes, so rates on open lines did not move.
Key takeaways
- The average HELOC rate rose 0.006 percentage points to 7.214% APR, from 7.208% on November 4, on 1,146 institutions and 2,078 rates.
- The average home equity loan rate rose 0.008 percentage points to 6.913%, from 6.905%, on 977 institutions and 3,793 rates.
- The prime rate has been 7.00% since September 16, and a HELOC rate changes only when the prime rate changes.
- Interest on a $75,000 HELOC balance at the 7.214% average is about $450.88 a month; a $60,000 home equity loan over 10 years at the 6.913% average has a payment of about $693.96.
HELOC rates rose 0.006 percentage points to 7.214% and home equity loan rates rose 0.008 to 6.913%
Home equity loan and HELOC rates, national average APR since April 13
Average APRs from MonitorBankRates.com's nightly collection, the same series this report's figures come from, updated daily.
The average HELOC rate was 7.084% on October 6, 7.166% on October 14, 7.230% on October 22, 7.208% on October 29 and November 4, and is 7.214% on November 10.
The average home equity loan rate was 6.872% on October 6, 6.868% on October 14, 6.884% on October 22, 6.908% on October 29, 6.905% on November 4 and is 6.913% on November 10. Both averages are made from each institution's most recent rate, so a change in which institutions are in the pool can move an average as easily as lenders changing their rates.
Interest on a $75,000 HELOC balance and the payment on a $60,000 home equity loan
At the 7.214% average, a $75,000 HELOC balance accrues about $450.88 a month in interest during the draw period, against $450.50 at the November 4 average, and each quarter point of rate adds $15.63 a month. A $60,000 home equity loan over 10 years at the 6.913% average has a fixed payment of about $693.96 a month, with roughly $23,276 in total interest. The budget calculator sets monthly income against expenses, and the debt consolidation calculator compares paying off debts with a new loan; both start from today's average rates, computed daily from more than 8,000 banks and credit unions, and state figures can be loaded.
Change since November 4, by product (percentage points)
This report's averages, November 4 to November 10. Red bars rose; green bars fell.
HELOC and home equity loan APRs, November 4 and November 10
| Product | November 4 APR | November 10 APR | Change Since November 4 |
|---|---|---|---|
| HELOCs ▲Variable rate; borrowed as needed up to a set limit | 7.208% | 7.214% | ▲ +0.006 |
| Home Equity Loans ▲Fixed rate; borrowed as one lump sum | 6.905% | 6.913% | ▲ +0.008 |
| More on borrowing against your home: compare home equity rates · home equity loan vs HELOC | |||
| All APRs are national averages of what real licensed institutions are actually offering to borrowers, not promotional teaser rates or rate aggregator estimates. This comparison runs November 4 to November 10, 2026. HELOC rates are variable and tied to the prime rate; home equity loan rates are fixed. Source: MonitorBankRates.com. | |||
Home equity averages compared with October 6
The average HELOC rate went from 7.084% on October 6 to 7.214% on November 10, a difference of 0.130 percentage points over 35 days; the average home equity loan rate went from 6.872% to 6.913%, a difference of 0.041 percentage points. The prime rate was 7.00% throughout, after rising from 6.75% on September 16 when the Federal Open Market Committee raised its target range to 3.75% to 4.00%. The committee left that range unchanged on October 28. Existing home equity loan payments do not change.
How a HELOC rate is set, and what each product gives a borrower
A HELOC rate is quoted as the prime rate plus a margin each lender chooses. The margin in the agreement is locked, and the rate on an open HELOC changes whenever the prime rate changes. A home equity loan pays out one lump sum at a fixed rate, with the same payment every month until it is repaid, while a HELOC is a limit a borrower draws against as needed, usually with interest due during a draw period. Our guide to the differences between a home equity loan and a HELOC covers both in detail.
Home equity averages on November 10
HELOCs average 7.214% and home equity loans 6.913%. Borrowers comparing local offers can line up Florida home equity loan rates against these national averages. The APR any borrower is quoted depends on credit profile, equity position, loan size, and lender.
Borrowers who need a lender can search our mortgage lenders and brokers directory by location, including mortgage lenders in Tampa, Florida.
Data Coverage & Methodology
All APRs in this report are calculated from rates collected directly from institution websites by MonitorBankRates.com's proprietary systems, tracking what real licensed institutions are actually offering to borrowers, not promotional teaser rates or rate aggregator estimates.
As of November 10, 2026, these averages were calculated from 5,871 individual rates verified across both products; the latest collection ran November 9, 2026. The table below shows the institutions and rates behind each product's average.
| Product | Institutions | Rates Verified |
|---|---|---|
| HELOCs | 1,146 | 2,078 |
| Home Equity Loans | 977 | 3,793 |
| Total | 5,871 |
Product counts overlap because many institutions offer both a home equity loan and a HELOC. Product rows reflect the institutions and rates that fed each product's most recent verified nightly average.
This report is for general information and is not financial advice. The APR any borrower receives depends on credit profile, equity position, loan size, and lender; confirm current offers with lenders before making decisions.
