Bank mortgage rates and Treasury rates moved measurably higher for the week while bank savings rates were mostly unchanged. Bank CD rates held fairly steady with the composite rate index increasing by just 1/1000th of a percent for the week. Mortgage rates made their largest weekly move this year. Bank money market rates and savings account rates made a measurable drop driven by the rate reduction of one of the highest bank rates that had been promoted prior to this week. Treasury rates also made their biggest weekly move with all midterm and long term Treasuries closing at their highest level for the year.

The CD interest rate index which covers the best three month CD rates, best six month CD rates, best one year CD rates, two year CD rates and five year CD rates increased by just .001 percent bringing the index up to 1.433 percent at week’s end.

The best three month CD rates were unchanged on the week with an average yield of 0.734 percent. The top six month CD rates moved modesty higher with an average rate of 1.066 percent. The best one year CD rates shed a few thousandths of a percent with an average interest rate of 1.306 percent. Two year CD rates increased from 1.548 percent to 1.553 percent. The best five year CD rates moved down a smidgen to 2.505 percent from 2.51 percent in the previous week.

Bank money market and savings account rates tumbled this past week. The average interest rate for the top ten highest bank money market and bank savings account rates moved down to 1.175 percent from 1.214 percent in the previous week. The loss of Americanet Bank’s money market account had a significant impact on the average rates. The bank has discontinued marketing the 1.75 percent rate account.

Mortgage rates were the big movers of the week; unfortunately for borrowers, the direction of the movement was higher. The average 30 year mortgage rate in the survey increased by 25 basis points to 5.155 percent from 4.895 percent in the previous week. The average 15 year mortgage rate moved up to 4.338 percent from 4.186 percent in the prior week.

The average 20 year mortgage rate shot up by over 30 basis points to end the week at 5.120 percent. The average 30 year jumbo mortgage rate increased to 5.624 percent from 5.388 percent in the week earlier. The average 30 FHA mortgage rate had the smallest increase, closing out the week at 5.025 percent.

Credit card rates were fractionally higher on the week. The average credit card rate on new credit card offers was up by less than one basis point leaving the average rate at 13.71 percent.

Treasury rates leaped at week’s end with the average yield on most Treasury securities reaching their high point for the year. The six month Treasury bill gained three basis points to close at 0.18 percent. The five year Treasury rate shot up 35 basis points to 2.27 percent. The ten year Treasury was higher by 32 basis points to close at 3.68 percent.

The weekly bank rate survey included the following interest rate results for the week ending February 4th, 2011:

CD interest rates:
Composite CD interest rate index 1.433 percent (up .001 percent)
3 month CD rates 0.734 percent (unchanged)
6 month CD rates 1.066 percent (up .007 percent)
1 year CD rates 1.309 percent (down .003 percent)
2 year bank CD rates 1.553 percent (up .005 percent)
5 year CD rates 2.505 percent (down .005 percent)

Money market and savings account rates:
Bank money market rates and savings account rates 1.175 percent (down .039 percent)

Mortgage rates:
30 year mortgage rate 5.155 percent (up .26 percent)
15 year mortgage rate 4.338 percent (up .15 percent)
20 year mortgage rate 5.120 percent (up .32 percent)
30 year jumbo mortgage rate 5.624 percent (up .24 percent)
30 year FHA mortgage rate 5.025 percent (up .20 percent)

Credit card rates:
Credit card rates for new credit card offers 13.71 percent (up .01 percent) 13.72

Treasury rates:
Six month Treasury rate 0.18 percent (up .03 percent)
Five year Treasury rate 2.27 percent (up .35 percent)
Ten year Treasury rate 3.68 percent (up .32 percent)

All bank rates are based on surveys conducted by at the close of February 4, 2011 with the interest rates obtained directly from the banks within the survey. Treasury rates are obtained from the Department of the Treasury.

More information on the above bank rates can be found at; 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, jumbo mortgage rates, CD rates California, CD rates New Jersey, CD rates New York, CD rates Florida, CD rates Washington, CD rates Illinois, CD rates Virginia, Credit Cards as well as Chase Bank Promotions, Citibank Promotion, Best Interest Checking Accounts, Best Rates on CDs and Best Credit Card Rates.

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