Spreads on Home Equity Loans Decreased Slightly

February 21, 2012 – According to Bankrate, the average rate for a new $30k Fixed Rate Home Equity Loan was 5.93% compared with last week of 5.97%.

According to the Federal Home Loan Bank of Des Moines, the 15 Year Fully Amortizing Advance Rate for the current week was 2.78% compared with the prior week of 2.70%.

The net effect was that spreads on fixed rate home equity loans decreased slightly for the week at 3.15%.