On Monday, August 3, 2026, the spread between the average home equity line of credit and the average fixed-rate home equity loan narrowed to just two basis points, according to national data from the Mortgage Research Center reviewed by Fortune. The 10-year home equity loan averaged 8.251%, the 15-year loan 8.417%, and the HELOC 8.294% — each essentially unchanged from the prior day.
That near-parity compresses the traditional pricing advantage that fixed-rate loans have sometimes held over variable-rate lines. When the gap was wider, borrowers could weigh a clear rate discount against the certainty of fixed payments. With the differential now negligible, the choice shifts toward structure: a lump-sum loan with level payments versus a revolving line that can be drawn, repaid, and redrawn during its draw period.
Other surveys show lower absolute levels but a similar convergence. Bankrate's national average HELOC rate stood at 7.44% for the week ending July 29, 2026, up one basis point from the prior week and matching the Federal Reserve Bank of St. Louis FRED series BRMHELOC01. Experian, citing Curinos data, placed the July 2026 average at 7.50%, down from roughly 9% at the start of 2025. The dispersion across sources reflects differences in loan amount, credit-score assumptions, and lender panels rather than a disagreement on direction.