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Christopher Menkin
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Christopher "Kit" Menkin is of editor LeasingNews.org (http://www.leasingnews.org/), an internet trade publication for the finance/leasing industry. He has 41 years experience in the finance/leasing industry as well as being a founder of a commercial regional bank and serving on... More
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  • Home Equity Line Of Credit Rates 0 comments
    Oct 18, 2012 1:29 PM

    (click to enlarge)

    The national average rate on home equity lines of credit was 4.43%, according to SNL Financial's most recent analysis, with 24 states offering lower average rates and 26 offering higher average rates. Massachusetts had the lowest average rate at 3.87%, while New Mexico again offered the highest average rate at 5.31%. While the states offering lower than the national average rates were not as tightly clustered geographically as was the case for 10-year home equity loans, there were still only four states primarily west of the Mississippi that offered lower average rates, Louisiana, Colorado, Utah and Hawaii.

    Nutley, N.J.-based Proponent Federal Credit Union posted the lowest average rate among credit unions at 1.99%. Proponent's 12 branches are split, with eight in New Jersey and four in North Carolina.

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

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