Heading into mid-August and odd bank rate behavior continues.  Political turmoil has pushed most interest rates lower including those tied to Treasury notes and bonds as well as those for mortgage borrowers.  Interest rates have dropped across the board however with rates on bank savings accounts and certificate of deposit accounts moving higher.

Geopolitical turmoil has become fairly wide spread this summer with tension in the Mideast rising in Iraq and Israel and Russian intervention in Ukraine expanding.  The fallout from theses hot spots has been nervous investors placing increasingly larger amounts of capital in the safety and security of US fixed income securities specifically, US Treasury bonds and mortgage bonds.

Concerns over political shenanigans in the far corners of the world have also disrupted the solid run in the stock market with rather large dips taking place before weeks end.  Interestingly, the uncertainty has not significantly impacted the commodities market with oil falling slightly, gold running in place, and other major commodities moving very little.

All in all, a good week for mortgage borrowers, consumers shopping for new car loans and savers investing in bank savings accounts and CD accounts.

Bank Rates Market Recap with the Weekly Change in Interest Rates Offered for August 8, 2014

CD interest rates:
Composite CD interest rate index 1.119 percent (up .001 percent)

3 month CD rates 0.405 percent (up .003 percent)
6 month CD rates 0.747 percent (unchanged)
1 year CD rates 1.057 percent (unchanged)
2 year CD rates 1.227 percent (unchanged)
5 year CD rates 2.161 percent (up .005 percent)

Money market and savings account rates:
Bank money market rates and savings account rates 0.947 percent (up .018 percent)

Mortgage rates:
30 year mortgage rates 4.215 percent (down .047 percent)
15 year mortgage rates 3.388 percent (down .022 percent)
20 year mortgage rates 3.956 percent (down .091 percent)
30 year jumbo mortgage rates 4.103 percent (down .062 percent)
30 year FHA mortgage rates 3.970 percent (down .068 percent)

Credit card rates:
Credit card rates for new credit card offers 13.88 percent (unchanged)

US Treasury rates:
Six month Treasury rate 0.05 percent (unchanged)
One year Treasury rate 0.10 percent (down .03 percent)
Two year Treasury rate 0.45 percent (down .02 percent)
Five year Treasury rate 1.62 percent (down .05 percent)
Ten year Treasury rate 2.44 percent (down .08 percent)

All bank savings rates and lending rates are based on surveys conducted by SelectCDrates.com at the close of August 8, 2014 with all of the interest rates obtained directly from the banks within the SelectCDrates.com survey.  Treasury rates are obtained directly from the Department of the Treasury.

For more detailed interest rate data on mortgage rates, CD rates, credit card rates and savings account rates for the week ending August 8, 2014 please see: 9 month CD rates, 3 year CD rates, 4 year CD rates, 20 year mortgage rates, VA mortgage rates, and the best interest checking accounts.

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