While U.S. Treasury rates increased last week, the top bank CD interest rates took a sizeable tumble. Not only did bank CD rates fall, bank money market rates and bank savings rates moved lower on the week as well. Mortgage rates and credit card rates, unfortunately, followed the cue of Treasuries and experienced higher rates by week’s end

Treasury rates were higher on the week but closed off their high yields that were reached during mid week. The ten year Treasury rate ended the week at 2.88 percent, eight basis points higher than the close at the previous week of 2.76 percent. The ten year reached its peak yield on Monday when the rate reached 2.92 percent. The one year Treasury rate also reached its high on Monday with a yield of 0.29 percent which was two basis points higher than the prior week’s closing level however, the rate settled back down to 0.27 percent at the close of the week. The five year Treasury has moved measurably higher on the week, starting the week at 1.35 percent and ended at its highest level of 1.54 percent on Friday.

CD interest rates were lower across all maturities. The average rate for the Selectcdrates.com composite index of CD rates dipped by three basis points, falling to 1.474 percent from 1.504 percent in the preceding week. The composite CD rate index covers the average rate for the top bank CD rates with a three month term, 6 month term, 1 year term, 2 year term and 5 year term.

The average rate for the top ten best 3 month CD rates dropped to 0.75 percent on the week, from .077 a week earlier. The average rate on six month bank CDs moved down by two basis points as well to close at 1.09 percent. The best one year CD rates took a slightly larger hit, tumbling to 1.35 percent from 1.38 percent in the previous week. Two year bank CDs dropped even more, with the average two year CD rate coming in at 1.66 percent or five basis points off of last week’s average rate of 1.71 percent. The five year CD rate was lower by four basis points ending the week with average CD interest rate of 2.51 percent.

Bank savings account rates and money market account rates were modestly lower week over week. The composite average of the top ten best bank money market account rates and bank savings account rates closed the week at 1.25 percent or one basis point lower than the previous week’s average rate of 1.26 percent.

Mortgage rates ended the week higher with both the 30 year fixed rate mortgage and 15 year fixed rate mortgage increasing by almost ten basis points. The average 30 year mortgage rate from the top bank mortgage lenders was 4.546 percent or just over eight basis points higher than last week’s average rate of 4.459 percent. The 15 year term mortgage loan ticked up by just under nine basis points, with an average rate of 3.931 compared to 3.823 percent in the previous week.

The average points charged by the bank mortgage lenders on both terms were higher as well. The average points charged on the 30 year mortgage increased to an average of 0.475 points while the average points on the 15 year mortgage increased s to 0.413 points.

Bank credit card rates gained ground on the week. The average credit card rate for new credit card offers was 13.74 percent or two basis points higher than the previous week average credit card rate of 13.72 percent. The weekly survey of credit card rates covers new credit card offers on the most popular credit cards available from the largest bank credit card companies. While average credit card rates were higher, introductory credit card rate offers showed an increase in activity for the week.

Selectcdrates.com Weekly Bank Savings Rate and Lending Rate Summary for the week ending November 19th, 2010 displayed the following results:

Composite CD interest rate index 1.474 percent
3 month CD rates 0.75 percent
6 month CD rates 1.09 percent
1 year CD rates 1.35 percent
2 year bank CD rates 1.66 percent
5 year CD rates 2.51 percent
Bank money market rates and savings account rates 1.25 percent
30 year mortgage rate 4.546 percent
15 year mortgage rate 3.931 percent
Credit card rates 13.74 percent
Six month Treasury rate 0.19 percent
Ten year Treasury rate 2.88 percent

All bank rates are based on surveys conducted by Selectcdrates.com at the close of November 19th, 2010. Treasury rates are obtained directly from the Department of the Treasury.

For more information on the best CD rates by term refer to the following pages; 6 month CD rates, 1 year CD rates, 2 year CD rates and 5 year CD rates. For more information on current mortgage rates refer to the 30 year mortagge rates table or the 15 year mortgage rates table. For state CD rates refer to the pages identified by state such as CD rates California, CD rates New Jersey, CD rates New York, CD rates Florida, CD rates Washington, CD rates Illinois, CD rates Virginia and more. For credit card rate information please see credit card listings at credit cards. Additional credit card information can be found at Chase Bank Credit Cards and Chase Credit Card Interest Rates as well as Chase Bank Promotions and Citibank Promotion.

Tags: , , , , , , , , , , , , ,

No user commented in " Bank Rates November 22, 2010 "

Follow-up comment rss or Leave a Trackback

Leave A Reply

 Username (*required)

 Email Address (*private)

 Website (*optional)