The Great Rate Convergence: What's Behind the Vanishing Difference Between HELOCs and Home Equity Loans?
The recent convergence of home equity loan (HEL) and home equity line of credit (HELOC) rates has been a welcome development in the complex world of modern finance.
According to Curinos, a real estate analytics company, the average HEL rate has dropped below 7. 35%, while the average HELOC rate has settled at 7. 16%.