HELOC and home equity loan rates today, April 21, 2026: Understand which option is best for you

With second mortgage interest rates at their lowest levels in three years, understanding which home equity option is best for you comes down to how you want to use the loan, not which option has the lowest rate. See today’s rates below and choose the option that best fits your needs. Learn the differences between a HELOC and a home equity loan.HELOC and home equity loan rates Tuesday, April 21, 2026 According to real estate analytics firm Curinos, the average adjustable rate HELOC is 7.24%, up four basis points from one month ago. The 52-week HELOC low was 7.19% in mid-March. The national average rate on a fixed-rate home equity loan is 7.37%, down 10 basis points from last month. The low was 7.36%, also in mid-March. Rates are based on applicants with a minimum credit score of 780 and a maximum combined loan-to-value ratio (CLTV) of less than 70%.HELOC or home equity loan: How to decide Choosing between a HELOC and a HEL is easy when you consider what you're using it for. A HELOC allows you to draw cash from your approved line of credit, pay it off, then tap it again. A home equity loan gives you a lump sum. With mortgage rates still above 6%, homeowners with home equity and a favorable primary mortgage rate well below that may feel frustrated by not being able to access the growing value in their home. For those who are unwilling to give up their low home loan rate, a second mortgage in the form of a HELOC or HEL can be an appealing solution. Learn how to use home equit…