When you have a lot of debt, getting a debt consolidation loan may not be the best answer for your situation. Sometimes, people are so impatient to find a way to pay their pressing monthly payments, that they will grasp the first seemingly easy way to combine all of them together in a plan they think will bring them a lower interest rate, but it may not work out that way.

Loan rates on consolidation loans can often vary from

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loan rates

Nowadays, home equity loan rates and refinance loan rates are hovering between 6.5% and 7.8%. Even though they have climbed slightly over the last two years, these home equity rates are still substantially lower than the interest rates on other types of consumer credit. Many homeowners have enjoyed significant increases in home equity through appreciation over

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