“Over the last year, the average rate for a home equity line of credit has jumped from 6.58 percent to 8.22 percent, while the average credit card rate has shot up from 12.4 percent to a little above 14 percent”

Given the above facts , one would be really wary of the strategy adopted by various mortgage banks who give a piggyback HELOC to a customer along with a First Mortgage. The HELOC acceptance rates are going to go way way down.