HELOC- Prime Rate or 1 Yr Constant Maturity Treasury Rate

[Esther Kim]

Am looking to take out a HELOC on my rental property (mortgage free) for about $70k for repairs. The property value is about $725k. I have been offered a HELOC through a local credit union based on the One Year Treasury Security Rate index.

Is this index more stable or less stable than the prime index? Pros/Cons?

Thanks.