what are current heloc rates

The current average HELOC interest rate is approximately 9.09% . However, rates can vary depending on the lender, location, and individual borrower profile. As of November 2023, competitive HELOC rates for most homeowners range from 7.5% to 9% . Its important to note that HELOC rates are indexed to a base rate called the prime rate, and lenders will consider the borrowers credit score, debts, and income to determine the margin added to the prime rate, which becomes the rate offer. Therefore, to get the most accurate and current HELOC rates, its advisable to directly contact lenders or financial institutions for personalized rate quotes based on individual circumstances.