Here’s phone condition of home equity rates from Bankrate.com’s weekly national survey of huge banks and thrifts carried out Jan. 27, 2010.

Rate Of Interest Roundup

Mortgages

Compact disks

Auto Financial loans

Home Equity

Charge Cards

Home Equity

Rate: 5.7 percent (credit line) 7.83 percent (loan)

Rates on home equity items split now.

The typical home equity credit line, or HELOC, continued to be unchanged at 5.7 percent. Home loan rates dipped 3 basis points, to 7.83 percent.

In other home equity news, Bank of America decided to begin modifying terms on home equity items with the federal government’s Hamp Loans.

Bank of America states it’s the first mortgage servicing company to accept such modifications. The loan provider may be the nation’s biggest mortgage servicing company, with nearly 14 million financial loans, including roughly 3 million second liens.

To get the best home loan rates in your town, check Bankrate’s interactive tool.

Use our interactive online annuities calculator to get the best rates in your local area.

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– Chris Kissell

Find out more: Home loan rates for Jan. 28, 2010