What are today's HELOC and home equity loan interest rates: February 20, 2026?
#HELOC rates #Home equity loan rates #February 2026 rates #Home borrowing options #Tax advantages #Variable vs fixed rates #Home equity record highs
📌 Key Takeaways
- Average HELOC interest rate is 7.11% as of February 20, 2026
- Average home equity loan interest rate is 6.95% as of February 20, 2026
- Home equity borrowing offers significantly lower rates than personal loans and credit cards
- Home equity used for eligible repairs may provide tax advantages through interest deductions
📖 Full Retelling
On February 20, 2026, homeowners across the United States are presented with favorable borrowing conditions as home equity levels have reached record highs, with average HELOC interest rates standing at 7.11% and home equity loans at 6.95%, according to CBS MoneyWatch. The current rates for home equity borrowing products represent significant savings compared to other financing options, with personal loans now carrying interest rates over 12% and credit cards hovering around 20% or higher. Matt Richardson, senior managing editor for CBS News' Managing Your Money section, explains that homeowners with substantial equity can leverage this valuable resource, potentially deducting interest payments from their taxes when used for eligible home repair projects. The article highlights that while HELOC rates are variable and change monthly based on market conditions, home equity loans offer fixed rates that remain constant throughout the loan term. Financial experts caution that while today's rates appear attractive, homeowners should carefully evaluate both current and potential future rate scenarios before committing to either product, as HELOCs could become more expensive if rates rise, while fixed-rate home equity loans won't benefit from further decreases.
🏷️ Themes
Home equity, Interest rates, Personal finance
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Original Source
MoneyWatch: Managing Your Money What are today's HELOC and home equity loan interest rates: February 20, 2026? We may receive commissions from some links to products on this page. Promotions are subject to availability and retailer terms. By Matt Richardson Matt Richardson Sr. Managing Editor, Managing Your Money Matt Richardson is the senior managing editor for the Managing Your Money section for CBSNews.com. He writes and edits content about personal finance ranging from savings to investing to insurance. Read Full Bio Matt Richardson February 20, 2026 / 11:15 AM EST / CBS News Add CBS News on Google If you have a robust funding source worth, on average, hundreds of thousands of dollars that you could borrow from with ease and affordability, would you consider doing so? That's the question homeowners in need of extra financing are currently contemplating after the average home equity level in the United States hit a record high in 2025. That leaves the average homeowner with a large amount of money to leverage and, if they do so for eligible home repair projects , they may even be able to deduct the interest paid from their tax bill for the years in which the product was used. But that's not the only advantage of using a home equity line of credit or home equity loan right now. Both products come with interest rates materially lower than what even qualified borrowers would otherwise secure with a personal loan or credit card. And, if homeowners use a HELOC now, they may even be able to exploit today's cooling interest rate environment even further, thanks to the product's variable rate that will change monthly based on market conditions. Before jumping in, however, it's important to know where rates stand right now, as of February 20, 2026. With your home serving as collateral in these exchanges, you'll want to ensure affordability before securing any funding. Below, we'll detail the rates you need to know to best inform your next steps. See how much home equity y...
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