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According to the June 2026 ICE Mortgage Monitor report, home equity is helping countless American homeowners navigate the "lock-in effect."
"The housing market continues to be defined by the lock-in effect," said Andy Walden, Head of Mortgage and Housing Market Research at ICE. "Millions of homeowners are sitting on first mortgages with rates well below current market levels, making second liens and HELOCs an attractive way to access equity without giving up those loans. While higher mortgage rates have reduced refinance opportunities and softened affordability gains in recent months, home prices continue to firm across much of the country and affordability remains improved from year-ago levels."
According to real estate ****** ytics firm Curinos, the average adjustable-rate HELOC is 7.25%. The 2026 HELOC low was 7.19% in mid-May. The national average rate on a fixed-rate home equity loan is 7.86%, up appreciably from last month, and far from its 2026 low of 7.36% we observed in mid-March and in much of May.
Rates are based on applicants with a minimum credit score of 780 and a maximum combined loan-to-value ratio (CLTV) of less than 70%.
According to the June 2026 ICE Mortgage Monitor report, home equity is helping countless American homeowners navigate the "lock-in effect."
"The housing market continues to be defined by the lock-in effect," said Andy Walden, Head of Mortgage and Housing Market Research at ICE. "Millions of homeowners are sitting on first mortgages with rates well below current market levels, making second liens and HELOCs an attractive way to access equity without giving up those loans. While higher mortgage rates have reduced refinance opportunities and softened affordability gains in recent months, home prices continue to firm across much of the country and affordability remains improved from year-ago levels."
According to real estate ****** ytics firm Curinos, the average adjustable-rate HELOC is 7.25%. The 2026 HELOC low was 7.19% in mid-May. The national average rate on a fixed-rate home equity loan is 7.86%, up appreciably from last month, and far from its 2026 low of 7.36% we observed in mid-March and in much of May.
Rates are based on applicants with a minimum credit score of 780 and a maximum combined loan-to-value ratio (CLTV) of less than 70%.
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