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Bankrate’s September 15, 2025 article reported mid-September national average rates of 8.10% for HELOCs, 8.38% for 10-year home equity loans and 8.26% for 15-year home equity loans. These were survey averages, not current offers or guaranteed rates for an individual borrower. The figures describe the snapshot before a Federal Reserve policy implementation took effect on September 18, 2025.
What were home equity rates in mid-September 2025?
Bankrate’s published averages showed a lower headline rate for a HELOC than for either fixed-rate home equity loan term it listed. The figures are historical mid-month averages from its September 15, 2025 article, not rates available today.
| Product | Bankrate average, as of mid-September 2025 | How funds are generally provided |
|---|---|---|
| HELOC | 8.10% [Bankrate, September 15, 2025] | Revolving credit that can be drawn and repaid over time |
| 10-year home equity loan | 8.38% [Bankrate, September 15, 2025] | Typically a lump sum with a fixed rate |
| 15-year home equity loan | 8.26% [Bankrate, September 15, 2025] | Typically a lump sum with a fixed rate |
Bankrate characterized these as average rates. A lender’s offer to a particular borrower can differ based on creditworthiness, lender, loan or line terms, and other costs. The 8.10% HELOC average was 0.28 percentage points below the 10-year loan average and 0.16 points below the 15-year loan average; those gaps do not establish which option would cost an individual less.
How a HELOC differs from a home equity loan
HELOC: access money as needed
A home equity line of credit is generally a revolving line: the borrower can draw funds over time, and interest is charged on the amount withdrawn rather than the entire available limit. HELOC rates are typically variable, so the rate and payment can change. That flexibility may suit costs that arrive in stages, but the borrower should understand the draw and repayment schedule and any annual or transaction fees or prepayment penalties.
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Home equity loan: receive a lump sum
A home equity loan typically pays the borrower one lump sum and has a fixed rate. Principal-and-interest repayment begins immediately, which makes payments more predictable than with a variable-rate line. This structure may fit a known, one-time expense when a borrower values a set repayment plan.
Why the lowest average rate is not necessarily the best deal
Headline averages do not include every factor that determines a borrower’s total cost. Compare actual lender offers and the terms behind them, not just the rate printed in an average or advertisement.
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- Rate behavior: Check whether the offer is variable or fixed. For a HELOC, review the index and margin and how changes affect the rate.
- How and when you borrow: A HELOC lets you draw as needed; a home equity loan advances the full amount at once. Interest costs depend in part on how much you borrow and when.
- Repayment: Understand the HELOC draw period and repayment requirements, or the loan’s amortization and payment schedule.
- Fees and early payoff: Include annual or transaction charges and any prepayment penalty when comparing costs.
- Your personalized terms: Ask for the APR and the lender’s qualification requirements based on your credit and property. Bankrate notes that rates vary by lender, terms and creditworthiness.
How to interpret the September 15 rate snapshot
The date matters: the Federal Reserve’s September 17, 2025 implementation note said that, effective September 18, the FOMC directed operations to maintain a federal funds target range of 4% to 4.25%. That policy rate is not a consumer HELOC rate, and the change happened after Bankrate’s September 15 article; it should not be folded into the earlier snapshot. See the Federal Reserve implementation note.
Bankrate Financial Analyst Stephen Kates, CFP, said, “A declining interest rate environment will provide some relief for borrowers.” That was a general outlook, not a promise that a particular borrower’s rate or payment would fall.
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How Bankrate’s HELOC average was constructed
For additional context, FRED describes the Bankrate Monitor HELOC series as a weekly national-average series observed as of Thursday. Bankrate’s stated method surveys 10 large institutions in the same 10 large U.S. markets each week and gives bank and thrift rates equal weight. The rate profile includes a 700 FICO score, a $30,000 line, 80% loan-to-value, an existing single-family detached primary residence, and no existing relationship or automatic payments for home-equity rate collection. These assumptions make the series a comparison index rather than a quote for every borrower. See FRED’s Bankrate Monitor HELOC series and notes.
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