Long term interest rates moved measurably lower over the past week bringing down mortgage rates, Treasury rates and long term certificate of deposit rates.  The short end of the yield curve remained pretty much in place as indicated by the six month and one year Treasury rates remaining mostly unchanged.  The lack of movement in short term rates kept CD interest rates quite stable along with credit card rates and savings account rates.

The average rate for bank CD rates actually improved over the past week, but these improvements were fairly minor.  The Selectcdrates.com index of the best three month CD rates, six month CD rates, one year CD rates, two year CD rates and five year CD rates ended the week at 1.265 percent.  The average rate increase was just 0.002 percent above the prior week’s rate of 1.263 percent.  The top rates for three month CDs, six month CDs and two year CDs saw rate increases while one year CD rates and five year CD rates moved lower.

Mortgage rates followed long term Treasury rates and moved lower across all mortgage terms.  The average 30 year fixed rate mortgage was lower by almost ten basis points or 10/100’s of a percent.  The average 30 year mortgage rate ended the week at 4.193 percent.  Jumbo loans, home loans with loan amounts greater than $417,000.00, slipped by a bit more than eight basis points to an average rate of 4.500 percent.  30 year FHA mortgage rates shed five basis points pushing the average rate on these government insured loans to 4.063 percent.
Savings accounts rates and money market account rates gained in yield over the week.  The average rate on the top ten best savings account rates and money market rates ticked up by just under two basis points moving the average yield up to 1.053 percent.

Credit card rates for the top tier credit card offers were held in check this week.  The average rate for new credit card offers, excluding introductory credit card rates, remained at 13.67 percent.

Treasury were stuck in neutral on the short end of the curve but dipped quite a bit a lower for the longer term maturities.  Six month bills were unchanged at 0.05 percent.  One year Treasury rates gained one basis point to 0.11 percent.  The five year rate slid by five basis points to 0.81 percent and the ten year broke past the 2.00 percent mark, sliding nine basis points to 1.93 percent.

The Selectcdrates.com weekly bank rate survey for September 9, 2011 displayed the following bank rates and interest rate changes for mortgage rates, CD interest rates, credit card rates, money market rates, savings account rates and Treasury rates:

CD interest rates:
Composite CD interest rate index 1.265 percent (up .002 percent)
3 month CD rates 0.629 percent (up .013 percent)
6 month CD rates 0.958 percent (down .015 percent)
1 year CD rates 1.152 percent (down .01 percent)
2 year bank CD rates 1.375 percent (up .01 percent)
5 year CD rates 2.213 percent (down .016 percent)

Money market and savings account rates:
Bank money market rates and savings account rates 1.053 percent (up .018 percent)

Mortgage rates:
30 year mortgage rate 4.193 percent (down .097 percent)
15 year mortgage rate 3.363 percent (down .05 percent)
20 year mortgage rate 3.938 percent (down .027 percent) 
30 year jumbo mortgage rate 4.500 percent (down .088 percent) 
30 year FHA mortgage rate 4.063 percent (down .05 percent) 

Credit card rates:
Credit card rates for new credit card offers 13.72 percent (unchanged) 

Treasury rates:
Six month Treasury rate 0.05 percent (unchanged)   
Two year Treasury rate 0.17 percent (down .03 percent)
Five year Treasury rate 0.81 percent (down .07 percent) 
Ten year Treasury rate 1.93 percent (down .09 percent) 

All bank savings rates and lending rates are based on surveys conducted by Selectcdrates.com at the close of September 9, 2011 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.

Additional CD interest rates and mortgage rate resources can be found at the following pages; 3 month CD rates, 6 month CD rates, 1 year CD rates, 2 year CD rates and 5 year CD rates, 30 year mortgage rates, 15 year mortgage rates, FHA mortgage rates, 20 year mortgage rates, 10 year mortgage rates, jumbo mortgage rates, best interest checking accounts and best credit card rates.

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