Changes in bank rates on both lending and savings side were very limited in the shortened week that ended November 11, 2011.  Treasury rates also showed very little activity for the week with most maturities have current yields that stayed within two basis points or 2/100’s of a percent from the prior week’s closing yield. 

The average rate for the top bank CD interest rates as measured by the Selectcdrates.com index of the top ten highest CD rates across various maturities was unchanged from the preceding week.  Mortgage rates displayed the greatest variation in rates over the week yet most mortgage loan products were offered with interest rates that were within five basis points of the rates offered in the prior week.

The average rate in the Selectcdrates.com CD rate index held at 1.139 percent.  The short term, 3 month CD rates in the weekly survey, were unchanged at 0.527 percent.  Six month CD rates were off by less than one basis point, ending the week with an average interest rate of 0.806 percent.  The top ten one year CD rates closed out higher, albeit by an extremely slim margin.  The average rate for the best one year CD rates ended the week at 1.097 percent.  Two year CD rates were undisturbed on the week at 1.273 percent.  The rate for the highest five year CD rates experienced a minor gain, less than one basis point, and ended the week with an average yield of 1.992 percent.

Mortgage rates were mixed with most mortgage loan products ending the week just slightly lower from where they started.  The average rate on the 30 year fixed rate mortgages dipped by 1.4 basis points to 4.124 percent.  The 15 year mortgage rates were cheaper for new home loan borrowers by just slightly more than the 30 year.  The average rate for the 15 year mortgage moved down to 4.124 percent from 3.416 percent in the week earlier.  Twenty year mortgage rates moved in the opposite direction and were more expensive by five basis points, pushing the average rate up to 3.958 percent.

Jumbo mortgage rates were little changed over the week.  The average 30 year jumbo mortgage rate was less costly by 2.5 basis points which brought the average rate on a jumbo loan down to 4.463 percent.  The 30 year FHA mortgage rate was remained in place.  The average 30 year FHA mortgage rate form the top ten bank mortgage lenders held at 4.025 percent.

The average rate for new credit card offers was unchanged.  This week saw another big round of credit card promotions and marketing initiatives by the big credit card companies.  The new promotions included new card names, new rewards and some changes to introductory credit card rates.  However, excluding the introductory rates there was no net change in the average long term rates offered on new credit cards and rates remained at 13.71 percent

Bank money market rates and savings account rates displayed some variability this week, but the average rate change was almost imperceptible.  The average rate for the top ten highest savings account rates and money market account rates was lower by 1/1000th of a percent.  The average rate ended the week at 0.985 percent after closing at 0.986 percent in the previous week.

Treasury rates traded in a very tight range.  The six month Treasury rate was unchanged at 0.03 percent.  The one year rate was lower by one basis point at 0.10 percent.  The two year and five year Treasury each gained two basis points to close at 0.24 percent and 0.90 percent, respectively.  The ten year Treasury moved the other way and was lower in yield by two basis points to end the week at 2.04 percent.

A more detailed report of bank savings rates and lending rates is detailed below.  The Selectcdrates.com weekly bank rate survey for November 11, 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 1.139 percent (unchanged)
3 month CD rates 0.527 percent (unchanged)
6 month CD rates 0.806 percent (down .006 percent)
1 year CD rates 1.097 percent (up .002 percent)
2 year bank CD rates 1.273 percent (unchanged)
5 year CD rates 1.992 percent (up .005 percent)

Money market and savings account rates:
Bank money market rates and savings account rates 0.985 percent (down .001 percent)

Mortgage rates:
30 year mortgage rate 4.124 percent (down .014 percent)
15 year mortgage rate 3.388 percent (down.028 percent)
20 year mortgage rate 3.9586 percent (up .052 percent) 
30 year jumbo mortgage rate 4.463 percent (down .025 percent) 
30 year FHA mortgage rate 4.025 percent (unchanged) 

Credit card rates:
Credit card rates for new credit card offers 13.71 percent (unchanged) 

Treasury rates:
Six month Treasury rate 0.03 percent (unchanged) 
Two year Treasury rate 0.24 percent (up .02 percent)
Five year Treasury rate 0.90 percent (up .02 percent) 
Ten year Treasury rate 2.04 percent (down .02 percent) 

All bank savings rates and lending rates are based on surveys conducted by Selectcdrates.com at the close of November 11, 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.  

For more information detailed interest rate data on mortgage rates, CD rates, credit card rates and savings account rates please see: 3 month CD rates, 6 month CD rates, 1 year CD rates, 2 year CD rates, 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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