Spreads on HELOCs Decreased

February 13, 2012 – According to Bankrate, the average rate for a new $30k Home Equity Line of Credit (HELOC) was 4.66% compared with last week of 4.69%.

According to the Federal Home Loan Bank of Des Moines, the 1 week advance rate for the current week was 0.37% compared with the prior week of 0.38%.

The net effect was that spreads on fixed rate home equity lines of credit decreased slightly for the week to 4.29%.