much you shop around. Homeowners sitting on equity have a window right now. HELOC rates are averaging about 7.14% and home equity loan rates are around 6.95% as of mid-April, making this the most competitive pricing in roughly three years. While not cheap by historical standards, rates are well below the peaks seen in 2024 and 2025.
The spread between the best and worst offers is huge. Some lenders are advertising introductory HELOC rates as low as 5.99% for the first year, while fixed home equity loans start as low as 5.24%.
On the high end, rates can reach 18% for borrowers with weaker credit or less equity - meaning shopping around isn't just helpful, it's worth thousands of dollars.
Home values have held up despite higher mortgage rates, leaving many homeowners with more equity than they realize. A HELOC or home equity loan lets them tap that value for renovations, debt payoff, or other expenses without selling or refinancing their primary mortgage. The math: with first mortgage rates still above 6.5%, keeping an existing low-rate mortgage and borrowing against equity through a second loan makes more financial sense than doing a full refinance for many homeowners.
HELOC rates are tied to the prime rate, which moves with the Fed. If rates stay on hold - as both Powell and Hammack have signaled - HELOC pricing should stay stable. But if inflation forces the Fed's hand in either direction, these rates will move with it.
Non taxable income is money you earn that the IRS does not tax - like Roth IRA cash, muni bond interest, and certain investment gains. The U.S. tax code taxes workers, investors, and business owners at very different rates. Tools like Roth accounts, muni bonds, and real estate write-offs can help you keep more of what you earn.
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