Home equity borrowing costs have hit two-year lows, creating a potential window for homeowners seeking cash. TEERAYUT CHAISARN/Getty Images

Homeowners received some welcome news this week via falling home equity borrowing rates , which dropped to their lowest point since 2023. According to Bankrate's national survey of lenders , the average rate on a $30,000 home equity line of credit (HELOC) slipped five basis points to 7.84% this week, while the benchmark five-year $30,000 home equity loan dropped six basis points to 8.15%. As a result, home equity borrowing is more affordable across the board than it has been in the last couple of years.

And, while those five- and six-basis-point drops may seem modest on paper, the reality is that in today's elevated rate environment, even s

See Full Page