Daily HELOC rates on June 7, 2024: Rates are steady (2024)

Advertiser Disclosure

Blueprint is an independent, advertising-supported comparison service focused on helping readers make smarter decisions. We receive compensation from the companies that advertise on Blueprint which may impact how and where products appear on this site.

The compensation we receive from advertisers does not influence the recommendations or advice our editorial team provides in our articles or otherwise impact any of the editorial content on Blueprint. Blueprint does not include all companies, products or offers that may be available to you within the market. A list of selected affiliate partners is available here.

Mortgages

Jamie Young

Ashley Harrison

Verified by an expert

“Verified by an expert” means that this article has been thoroughly reviewed and evaluated for accuracy.

BLUEPRINT

Published 4:48 a.m. UTC June 7, 2024

Editorial Note: Blueprint may earn a commission from affiliate partner links featured here on our site. This commission does not influence our editors' opinions or evaluations. Please view our full advertiser disclosure policy.

Today’s HELOC rates

*Data accurate as of June 6, 2024, the latest data available.

Current HELOC rate trends

Here is the average annual percentage rate (APR) for a $100,000 HELOC at different LTV ratios — 60%, 80% and 90%.

HELOC rates: 60% LTV ratio

Today’s average HELOC rate is 9.15% with a 60% LTV ratio, which is the same as last week's, according to data from Curinos. This is an increase from last month's 9.12%.

Before you borrow, compare the best HELOC lenders

HELOC rates: 80% LTV ratio

The HELOC rate today for a borrower with an LTV ratio of 80% sits at 9.32%. This means it stayed about the same as last week, according to data from Curinos. Last month, the rate was at 9.30%.

HELOC rates: 90% LTV ratio

The average HELOC rate if you have an LTV ratio of 90% is the same as last week at 10.11%, according to data from Curinos. This is about the same as last month's 10.12%.

Frequently asked questions (FAQs)

Repayment terms for HELOCs typically range from five to 30 years. This generally comprises a draw period of up to 10 years and then up to 20 years to repay what you’ve borrowed.

To get the lowest available rate on a HELOC, you’ll typically need:

Good to excellent credit.
Significant equity in your home.
A low debt-to-income (DTI) ratio.
Steady income and employment.

Many lenders also offer special perks with HELOCs. For example, you might be able to take advantage of a lower introductory APR or rate discounts. Some lenders also let you convert from a variable-rate to a fixed-rate HELOC.

Estimate how much you can borrow with our HELOC calculator

A HELOC is a revolving line of credit that gives homeowners a flexible way to borrow against the equity they’ve built up in their home. Similar to a credit card, you can repeatedly borrow from your credit line and will only pay back the amount you’ve drawn. You’ll also only pay interest on what you’ve actually borrowed.

HELOCs can be used for almost any purpose, from home improvement projects or debt consolidation to college tuition or emergency expenses.

Blueprint is an independent publisher and comparison service, not an investment advisor. The information provided is for educational purposes only and we encourage you to seek personalized advice from qualified professionals regarding specific financial decisions. Past performance is not indicative of future results.

Blueprint has an advertiser disclosure policy. The opinions, analyses, reviews or recommendations expressed in this article are those of the Blueprint editorial staff alone. Blueprint adheres to strict editorial integrity standards. The information is accurate as of the publish date, but always check the provider’s website for the most current information.

Jamie Young

BLUEPRINT

Jamie Young is Lead Editor of loans and mortgages at USA TODAY Blueprint. She has been writing and editing professionally for 12 years. Previously, she worked for Forbes Advisor, Credible, LendingTree, Student Loan Hero, and GOBankingRates. Her work has also appeared on some of the best-known media outlets including Yahoo, Fox Business, Time, CBS News, AOL, MSN, and more. Jamie is passionate about finance, technology, and the Oxford comma. In her free time, she likes to game, play with her two crazy cats (Detective Snoop and his girl Friday), and try to keep up with her ever-growing plant collection.

Ashley Harrison

BLUEPRINT

Daily HELOC rates on June 7, 2024: Rates are steady (2024)

Today’s HELOC rates

Current HELOC rate trends

HELOC rates: 60% LTV ratio

HELOC rates: 80% LTV ratio

HELOC rates: 90% LTV ratio

Frequently asked questions (FAQs)

References