Spreads on Home Equity Loans Increase

January 30, 2012 – According to Bankrate, the average rate for a new $30k Fixed Rate Home Equity Loan was 6.03% compared with last week of 6.22%.

According to the Federal Home Loan Bank of Des Moines, the 15 Year Fully Amortizing Advance Rate for the current week was 2.71% compared with the prior week of 2.97%.

The net effect was that spreads on fixed rate home equity loans decreased slightly for the week to 3.32%.