How today's HELOC rates are set
A variable HELOC rate has two parts. The index, almost always the prime rate, is the same for every borrower and moves when the Federal Reserve changes rates. The margin is set by your lender when you open the line, mostly from your credit and how much of your home's value you borrow, and it usually stays the same for the life of the line.
Prime rate (7.00%) +Your margin =Your HELOC rate
The Federal Reserve raised rates on September 16, 2026, which moved prime to 7.00%. Its October 27 and 28 meeting is more recent than the prime rate data shown here, which runs through October 27, 2026. Its next meeting is December 8 and 9. With 30-year mortgage rates above 7%, a HELOC lets you borrow against your equity without refinancing a lower rate you already have.
- Margin of 0.50 point7.00% prime + 0.50 = 7.50%
- $313/mo
- Margin of 2.00 points7.00% prime + 2.00 = 9.00%
- $375/mo
- Each 0.25 point move in prime
- $10/mo
Margins here are examples, not offers. Once the draw period ends you repay principal too, and the payment rises; the HELOC payment calculator shows both.
What HELOCs actually opened at in 2025
- The median HELOC opened at 7.50% in 2025. Half of the 860,169 lines opened between 6.50% and 8.50%. Leaving out lines with a 3 to 12 month introductory rate, the median was 7.75%.
- About 21% of HELOCs opened at an introductory rate that lasted 3 to 12 months, at a median of 5.99%. Those rates rise to the regular variable rate when the promotion ends.
- Rates were flat up to 80% of the home's value: a median of 7.49% at 60% or less and 7.50% at 70% to 80%. Between 80% and 85% the median jumped to 8.50%.
- Bigger lines got lower rates: a median of 7.75% under $50,000 and 7.25% from $250,000 to $500,000.
- Home equity loans cost about a point more at opening: a median of 8.50%, usually at a fixed rate, against 7.50% for HELOCs, which are usually variable.
These are rates on lines opened in 2025, when prime ran from 6.75% to 7.50%. Public HMDA data has no credit scores. How we counted.
HELOC rates by state
In 2025, Hawaii (5.90%), North Carolina (6.99%), Iowa (7.00%) and Vermont (7.00%) had the lowest median HELOC rates, and Alaska (8.50%), Illinois (8.00%), Nevada (8.00%), New Mexico (8.00%), South Dakota (8.00%) and Wyoming (8.00%) the highest. Many state medians land on round numbers, so small differences between states are often ties. The middle-half column shows how widely rates varied inside each state.
| State | Median rate | Middle half | Loans | Median without intro rates |
|---|---|---|---|---|
| United States | 7.50% | 6.50% to 8.50% | 860,169 | 7.75% |
| Alabama | 7.50% | 5.75% to 8.38% | 12,419 | 8.00% |
| Alaska | 8.50% | 6.72% to 9.18% | 772 | 8.50% |
| Arkansas | 7.75% | 7.25% to 8.75% | 5,380 | 8.00% |
| California | 7.88% | 6.50% to 8.75% | 86,870 | 8.13% |
| Colorado | 7.99% | 7.50% to 8.50% | 24,790 | 8.00% |
| Delaware | 7.50% | 6.50% to 8.58% | 3,346 | 7.65% |
| District of Columbia | 7.50% | 6.50% to 8.50% | 962 | 7.50% |
| Florida | 7.60% | 6.99% to 8.90% | 51,305 | 7.87% |
| Georgia | 7.75% | 6.99% to 9.00% | 23,970 | 8.00% |
| Hawaii | 5.90% | 5.65% to 6.20% | 3,328 | 5.90% |
| Idaho | 7.65% | 7.00% to 8.25% | 8,650 | 7.75% |
| Illinois | 8.00% | 7.24% to 9.03% | 27,255 | 8.00% |
| Iowa | 7.00% | 6.49% to 7.91% | 10,019 | 7.25% |
| Kansas | 7.70% | 6.49% to 8.48% | 6,127 | 8.00% |
| Kentucky | 7.50% | 7.00% to 8.60% | 13,299 | 7.75% |
| Louisiana | 7.75% | 4.99% to 9.62% | 3,621 | 8.75% |
| Maine | 7.50% | 7.00% to 7.75% | 4,477 | 7.50% |
| Maryland | 7.63% | 6.44% to 9.00% | 17,709 | 7.75% |
| Massachusetts | 7.05% | 6.50% to 7.65% | 25,013 | 7.25% |
| Michigan | 7.74% | 7.24% to 8.50% | 33,001 | 7.75% |
| Minnesota | 7.50% | 6.75% to 8.63% | 14,312 | 7.75% |
| Mississippi | 7.50% | 5.96% to 7.75% | 4,674 | 7.50% |
| Missouri | 7.50% | 5.99% to 8.29% | 13,980 | 8.00% |
| Montana | 7.75% | 7.25% to 8.50% | 2,440 | 7.95% |
| Nebraska | 7.49% | 6.49% to 8.49% | 4,465 | 7.65% |
| Nevada | 8.00% | 6.76% to 9.00% | 6,666 | 8.24% |
| New Hampshire | 7.40% | 6.99% to 7.90% | 6,354 | 7.50% |
| New Jersey | 7.63% | 6.75% to 8.68% | 28,021 | 7.84% |
| New Mexico | 8.00% | 6.99% to 9.35% | 2,403 | 8.45% |
| North Carolina | 6.99% | 6.50% to 8.00% | 39,526 | 7.35% |
| North Dakota | 7.75% | 7.50% to 8.25% | 1,265 | 7.75% |
| Oklahoma | 7.75% | 7.00% to 9.00% | 5,167 | 8.00% |
| Oregon | 7.50% | 7.25% to 8.45% | 16,153 | 7.65% |
| Pennsylvania | 7.18% | 5.74% to 8.24% | 42,789 | 7.65% |
| Rhode Island | 7.15% | 6.50% to 7.75% | 6,116 | 7.50% |
| South Carolina | 7.50% | 6.49% to 8.50% | 12,161 | 7.75% |
| South Dakota | 8.00% | 7.50% to 8.50% | 1,266 | 8.11% |
| Tennessee | 7.50% | 6.24% to 8.56% | 19,317 | 7.75% |
| Texas | 7.65% | 6.89% to 8.88% | 18,832 | 8.15% |
| Utah | 7.24% | 6.24% to 8.00% | 17,823 | 7.50% |
| Vermont | 7.00% | 6.90% to 7.50% | 1,992 | 7.00% |
| Virginia | 7.63% | 6.75% to 8.50% | 26,912 | 7.75% |
| Washington | 7.74% | 6.49% to 8.28% | 28,736 | 8.00% |
| West Virginia | 7.75% | 4.99% to 8.94% | 2,244 | 8.50% |
| Wisconsin | 7.25% | 6.50% to 7.75% | 26,623 | 7.25% |
| Wyoming | 8.00% | 7.25% to 8.70% | 1,194 | 8.13% |
Select a column heading to sort. Loans are HELOCs in second lien position with a reported rate. “Without intro rates” leaves out lines with a 3 to 12 month introductory rate. Linked state names open that state's HELOC guide. Download this table (CSV).
How much you borrow and your rate
Combined loan-to-value ratio (CLTV) is your mortgage plus the new line, divided by your home's value. Up to 80%, the median rate barely moved. From 80% to 85% it was 8.50%, a full point higher. Fewer lenders go above 85%, and those lines are a different mix of products, so do not read the bands above 85% as cheaper.
Show the numbers
| CLTV | Loans | Median | Middle half |
|---|---|---|---|
| 60% or less | 313,304 | 7.49% | 6.49% to 8.17% |
| 60% to 70% | 170,380 | 7.50% | 6.50% to 8.40% |
| 70% to 80% | 252,783 | 7.50% | 6.74% to 8.55% |
| 80% to 85% | 63,469 | 8.50% | 7.25% to 9.85% |
| 85% to 90% | 48,762 | 8.00% | 6.94% to 9.50% |
| Over 90% | 9,660 | 8.50% | 7.50% to 9.50% |
The scale runs from 0% to 10%. Source: LenderMatch analysis of 2025 HMDA data, FFIEC.
Line size and your rate
Larger lines opened at lower rates in 2025: a median of 7.75% for lines under $50,000 against 7.25% for $500,000 and up.
| Line size | Loans | Median | Middle half |
|---|---|---|---|
| Under $50k | 160,461 | 7.75% | 6.75% to 9.37% |
| $50k to $100k | 264,971 | 7.75% | 6.75% to 8.79% |
| $100k to $150k | 185,836 | 7.50% | 6.49% to 8.25% |
| $150k to $250k | 143,981 | 7.50% | 6.49% to 8.15% |
| $250k to $500k | 85,513 | 7.25% | 6.49% to 8.00% |
| $500k and up | 19,407 | 7.25% | 6.40% to 7.90% |
Introductory rates
HMDA records the rate when the line opens, so a line with a promotional rate shows up at that rate. The introductory period is the number of months before the rate can first change.
| Introductory period | Lines | Median | Middle half |
|---|---|---|---|
| None reported | 165,450 | 8.25% | 7.25% to 9.85% |
| 1 to 2 months | 490,376 | 7.75% | 7.00% to 8.50% |
| 3 to 12 months | 181,508 | 5.99% | 4.99% to 6.99% |
| 13 months or more | 22,817 | 7.24% | 6.49% to 8.00% |
A period of 1 to 2 months usually means a regular variable line whose rate can change from the first billing cycle. Ask any lender what the rate becomes after the promotion and how the margin is set.
How these rates are counted
- Data
- HMDA 2025 Snapshot loan-level data via the FFIEC HMDA Data Browser API, loans originated in 2025. Retrieved October 27, 2026.
- What is counted
- HELOCs: open-end lines of credit in second lien position (860,169 lines with a usable rate). Lines in first lien position are counted separately: a median of 7.25% on 230,991 lines.
- Filters
- Principal residence, consumer (not business) purpose, not a reverse mortgage, one to four units. Loans used to buy a home are not in the data, so purchase loans and piggyback second mortgages are left out.
- The rate
- The interest rate the lender reported at closing or account opening. For a line that opened at a promotional rate, that is the promotional rate.
- Middle half
- Half of the loans had a rate between these two numbers (the 25th and 75th percentiles). One quarter were lower and one quarter higher.
- Small groups
- Any group with fewer than 30 loans is not shown. Rates under 0.5% or over 25% are left out as promotional or reporting outliers.
- CLTV
- Combined loan-to-value ratio: everything secured by the home, divided by its value, as the lender reported it. Each range includes its upper bound.
- States
- The state where the home is. National figures add up all 50 states and DC.
Query
- Loan-level rows, one state at a time
https://ffiec.cfpb.gov/v2/data-browser-api/view/csv?states={ST}&years=2025&actions_taken=1&loan_purposes=2,31,32,4,5
Checks
Every published number was recomputed by a second, independent program from the raw rows, and each state's row count matches the HMDA Data Browser's own count for the same query.
Limitations
- These are rates on loans that closed in 2025, not today's offers. Rates have moved since; check the current prime rate and mortgage averages for where things stand now.
- Public HMDA data has no credit scores, so none of these rates are broken out by score.
- Smaller banks and credit unions with partial exemptions often do not report rates, and the smallest lenders do not report at all, so their loans are under-represented.
- A median shows what was typical, not what any one borrower will be offered. Lenders price on credit, income, equity and their own rules.
- The 2025 data is the snapshot release. FFIEC can publish revised files later, and figures may shift slightly.
How to cite this data
You are welcome to use these figures. Please credit LenderMatch and link to this page.
LenderMatch. “HELOC rates by state, 2025.” Analysis of 2025 Home Mortgage Disclosure Act data (FFIEC). Published October 27, 2026. https://lendermatch.io/heloc-rates/
Frequently asked questions
What is the current HELOC rate?
There is no single HELOC rate. Most lines charge the prime rate plus a margin set by the lender, and prime is 7.00% as of October 27, 2026. In 2025, the median HELOC opened at 7.50%, and half opened between 6.50% and 8.50%.
What is a good HELOC rate?
In 2025, a quarter of HELOCs opened below 6.50% and a quarter above 8.50%. Many of the lowest were introductory rates that rise after a few months, so compare the rate after the promotion, the margin and the fees, not only the opening rate.
Are HELOC rates fixed or variable?
Most are variable and move with the prime rate. Some lenders let you lock part of your balance at a fixed rate, and a home equity loan is usually fixed for its whole term.
Which state has the lowest HELOC rates?
In 2025, Hawaii (5.90%), North Carolina (6.99%), Iowa (7.00%) and Vermont (7.00%) had the lowest median HELOC rates. Hawaii's figure reflects many lines with fixed or introductory periods of more than a year. Alaska (8.50%), Illinois (8.00%), Nevada (8.00%), New Mexico (8.00%), South Dakota (8.00%) and Wyoming (8.00%) had the highest.
Does borrowing more of my equity raise my HELOC rate?
Up to 80% of your home's value, rates barely moved in 2025: a median of 7.49% at 60% or less and 7.50% at 70% to 80%. From 80% to 85% the median was 8.50%.
Will HELOC rates go down?
HELOC rates follow the prime rate, which moves when the Federal Reserve changes its target rate. This page reports the rate and does not forecast it.
Keep reading
- What is a HELOC? How it works, and what happens after year 108 min read
- HELOC requirements and eligibility: credit score, equity, DTI and the documents you need8 min read
- HELOC rules by stateLimits, waiting periods and home prices for each state
See your payment while the line is open and what it becomes once repayment starts.
Estimate your HELOC payment