Quick take: this piece looks at HELOC and home equity loan rates as of Sunday, April 5, 2026, explains how those rates are set, compares variable versus fixed second-mortgage options, and gives practical examples so you know what to expect when you shop for a second mortgage.
HELOC and home equity loan rates: Sunday, April 5, 2026 are sitting near the levels homeowners have seen for several months. According to real estate analytics firm Curinos, the average HELOC rate is 7.20%, while the national average rate on a home equity loan is 7.47%. The 52-week HELOC low was 7.19% in mid-January, and the home equity loan low of 7.38% showed up in early December 2025.
Those headline numbers are based on ideal borrower profiles: think credit scores of 780 or higher and a combined loan-to-value ratio of less than 70 percent. Lenders price second mortgages by looking at credit quality, outstanding debt, and how much of your home’s value you want to tap. If your profile slips, expect your rate to climb, sometimes quite a bit.
One reason second mortgages are getting more attention is that primary mortgage rates have drifted above 6 percent. Homeowners who locked a low rate on a first mortgage often prefer to keep that deal and access equity another way, which makes HELOCs and home equity loans attractive tools. They let you tap value without disturbing that low-rate first mortgage.
Second mortgages usually tie to an index plus a margin rather than mirroring fixed primary mortgage pricing. The index is often the prime rate, which recently fell to 6.75 percent, and lenders add a margin. For example, a lender adding a 0.75 percent margin to a 6.75 percent prime would price a HELOC at about 7.50 percent.
HELOCs commonly offer introductory teaser rates that can last six months to a year, after which the rate adjusts to the indexed formula. That intro can feel great at first but may reset to a substantially higher level, so build that possibility into your budget. Home equity loans, in contrast, typically come with fixed rates that do not change, which simplifies planning.
What top lenders offer varies, but strong offers often include low fees, a fixed-rate conversion option, and larger credit lines. HELOCs give flexibility: draw what you need, pay it down, and draw again within the credit limit. If you want a lump sum with a fixed payment and no variable surprises, a home equity loan is usually the simpler bet.
Keep an eye on competitive advertised deals because advertised APRs shift quickly. “LendingTree is offering a HELOC APR as low as 6.23%” on a $150,000 credit line is an example of a market headline you might see. That kind of offer can be real for certain borrowers, but remember that HELOCs are typically variable, so monthly bills can rise if rates climb.
So what’s a reasonable rate to expect? The national averages — 7.20% for HELOCs and 7.47% for home equity loans — are good baselines, but individual offers can range widely. You might find rates under 6 percent if you have exceptional credit and low CLTV, or much higher rates if your profile is weaker. How hard you shop matters.
Is now a good time to get a HELOC? For homeowners with a low primary mortgage rate and meaningful equity, it can be “one of the best times to get a HELOC” or a home equity loan. You can access cash for improvements, repairs, or other needs without refinancing away a favorable first mortgage rate, which is a valuable option in a higher-rate environment.
To illustrate payment mechanics, if you withdrew the full $50,000 from a HELOC and paid a 7.25 percent interest rate, your monthly payment during a 10-year draw period would be about $302. That number looks manageable, but remember payments can rise during the typical 20-year repayment period that follows, and a HELOC effectively behaves like a 30-year loan if you stretch payments out. HELOCs work best when borrowers plan to borrow and repay within a shorter window.
Bottom line when shopping: compare margins, index definitions, introductory period terms, fees, and the lender’s rules on fixed-rate conversions. Read the fine print on repayment terms and make sure your cash-flow plan can handle rate increases if you choose a variable product. Being a smart shopper is the best move you can make in this market.
