Home equity borrowing interest rates are on the decline again, after rising earlier this summer. Getty Images

While not by much, the recent downward trend in the home equity borrowing interest rate climate continued this week, according to a new report from Bankrate . The median rate on a home equity line of credit (HELOC) fell from 8.13% to 8.12% while the average home equity loan rate declined from 8.25% to 8.23%. The decline followed a similar trend from last week, keeping both home equity loans and HELOCs at the top of the list for homeowners looking for inexpensive ways to borrow large sums of money right now.

Add in the fact that home equity levels just hit a new record high and that tens of millions of homeowners have some borrowable portion of equity t

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