Truist (TFC) Named Best HELOC Lender as U.S. Average Rate Hits 7.21% on May 31

Truist Financial (TFC) was named the best HELOC lender by Yahoo Finance on May 31, 2026. The national average rate for a home equity line of credit stands at 7.21%, while home equity loans average 7.36%, according to Curinos. These rates are based on applicants with credit scores of at least 780 and a combined loan-to-value ratio below 70%. Truist offers lines up to $1 million, a fixed-rate HELOC option with five term choices, and allows interest-only or revolving payments during the draw period. HELOC rates typically track the prime rate—currently 6.75%—plus a lender margin, giving banks pricing flexibility. The average HELOC rate has hovered near its 2026 low of 7.19%, first recorded in mid-January. With 30-year mortgage rates near 6%, homeowners holding low-rate first liens increasingly tap equity via second mortgages rather than refinancing. This sustains demand for HELOCs and home equity loans, though variable-rate structures expose borrowers to higher payments if the prime rate rises.