As of November 1, 2023, the current average home equity loan interest rate is 8.94 percent, and the current average HELOC interest rate is 9.09 percent. However, home equity interest rates vary widely by lender and the type of product. Generally speaking, home equity lines of credit (HELOCs) have lower starting interest rates than home equity loans, although the rates are variable. Home equity loans have fixed interest rates, which means the rate you receive will be the rate you pay for the entirety of the loan term.

Here are some examples of current home equity loan rates as of November 2023:

• Home equity loan: 8.94%, 8.60% – 10.06%
• 10-year fixed home equity loan: 9.09%, 8.09% – 10.00%
• 15-year fixed home equity loan: 8.73%, 7.99% - 10.73%
• HELOC: 9.12%, 8.29% - 9.71%

Its important to note that these rates are subject to change and may vary depending on the lender, your credit score, and other factors. To get the best home equity loan rates, its recommended to shop around and compare offers from different lenders.