The majority of HELOCs in the United States are tied to the prime rate. When the prime rate rises, so does the interest rate on home equity lines. When the prime rate is lowered, HELOC interest rates drop accordingly.

Today’s Prime Rate: 3.25%

(Updated February 19, 2010 – Wall Street Journal)

See Also:

Will Federal Rate Cuts Affect Your HELOC APR?

How to Negotiate the Best HELOC Rates and Terms