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No verified national average for HELOCs or home equity loans on June 3, 2024, is available in the cited sources. That means there is no reliable rate figure to quote for that date. The U.S. figures and rates discussed here are distinct: “current” refers to the historical date in the title, not today.
Why there is no June 3, 2024 rate table here
The available sources do not establish a comparable national average for either product on June 3, 2024. A later rate survey cannot fill that gap: its date and market conditions are different. For example, Bankrate published a rate comparison dated June 3, 2026, but those figures describe 2026, not 2024: Bankrate’s June 3, 2026 rate survey.
Bankrate’s HELOC series, hosted by FRED, describes weekly observations taken as of Thursday. Its methodology samples 10 large institutions in 10 U.S. markets and specifies an assumed customer profile, including a 700 FICO score, a $30,000 line, 80% loan-to-value, and an owner-occupied single-family detached home. The series page does not establish a June 3, 2024 observation: Bankrate Monitor HELOC series and methodology. These assumptions matter because a surveyed rate is not an individualized offer.
HELOC and home equity loan rates are different
HELOCs
A home equity line of credit commonly has a variable rate, and many lenders tie it to the prime rate. Changes in the benchmark can therefore affect the rate charged on a drawn balance. The precise terms depend on the lender and borrower.
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Fixed-rate home equity loans
A home equity loan is generally offered at a fixed rate, so the rate does not change after closing. The rate on a new loan can still reflect prevailing market conditions. HELOC and home equity loan rates are separate product categories, not interchangeable figures. Bankrate explains these differences and the role of borrower-specific circumstances in its overview of Federal Reserve moves and home equity rates.
How to evaluate a published rate
Before comparing a rate with an offer, check what it actually measures. Survey averages and lender quotes may use different dates, products, assumptions, and borrower profiles.
- Product: Determine whether the number is for a variable-rate HELOC or a fixed-rate home equity loan.
- Date: Match the observation date to the period you care about; a 2026 survey is not evidence of a June 2024 rate.
- Amount and term: Check the assumed line or loan amount and, for a fixed loan, the repayment term.
- Borrower assumptions: Look for credit score, loan-to-value ratio, property type, and occupancy assumptions.
- Offer type: Distinguish a national survey average from the rate a particular lender offers an individual borrower.
Bankrate’s methodology and its later survey illustrate why those details matter, but neither supplies a verified June 3, 2024 national average for both products.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What contemporaneous Federal Reserve data can—and cannot—show
The Federal Reserve Board’s Financial Accounts table released June 7, 2024 includes home-equity loan categories. It is lending-market context, not a consumer interest-rate quote for June 3: Federal Reserve Financial Accounts, L.218.
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Separately, the Federal Reserve Bank of New York reported that U.S. HELOC balances reached $380 billion at the end of Q2 2024, up $4 billion during the quarter. This is an end-of-quarter balance statistic, not an interest rate or a June 3 reading: New York Fed’s Q2 2024 Household Debt and Credit release.
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