Market news was rather subdued last week relative to the previous week’s torrent of news reports from around the globe. While the market news settled down so did interest rates. Interest rates were lower across the board which included CD interest rates, money market rates, mortgage rates and Treasury rates. Only credit card rates bucked the trend by increasing modestly on the week. Although the bank rates in our weekly surveyed moved lower, for the most part the drop in rates was relatively subdued.

The weekly bank rate survey included the following interest rate results for the week ending April 22, 2011:

CD interest rates:
Composite CD interest rate index 1.371 percent (down .02 percent)
3 month CD rates 0.596 percent (down .054 percent)
6 month CD rates 0.981 percent (down .019 percent)
1 year CD rates 1.249 percent (down .002 percent)
2 year bank CD rates 1.508 percent (down .003 percent)
5 year CD rates 2.522 percent (down .022 percent)

Money market and savings account rates:
Bank money market rates and savings account rates 1.140 percent (down .007 percent)

Mortgage rates:
30 year mortgage rate 4.887 percent (down .045 percent)
15 year mortgage rate 4.146 percent (down .058 percent)
20 year mortgage rate 4.725 percent (down .025 percent)
30 year jumbo mortgage rate 5.299 percent (up .053 percent)
30 year FHA mortgage rate 4.750 percent (down .025 percent)

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

Treasury rates:
Six month Treasury rate 0.11 percent (down .01 percent)
Two year Treasury rate 0.68 percent (down .03 percent)
Five year Treasury rate 2.14 percent (unchanged)
Ten year Treasury rate 3.42 percent (down .01 percent)

The CD rate index which measures the top ten best CD rates on three month CDs, six month CDs, one year CDs, two year CDs and five year CDs was lower by exactly two basis points or 2/100th of a percent in this week’s bank rate survey. The composite CD interest rate index dropped to 1.371 percent for the week from 1.391 percent in the prior week.

The best three month CD rates were took a big hit, falling by just over five basis points with many of the long term best bank rates finally cutting back on the yield they offer. The top ten highest three months CD rates had an average yield of 0.596 percent. The top ten best six month CD rates were down by two basis points bringing the average rate on the two year CDs to 0.981 percent. The best one year CDs rates barely budged with the average rate dipping to 1.249 percent from 1.251 percent in the week earlier. The two year CD rates were also down by a very small margin. The average rate on the top ten best two year CD rates came in at 1.508 percent after closing at 1.511 percent in the prior week. The best five year bank CD rates displayed a little more activity, falling just over two basis points to yield 2.522 percent.

Bank money market rates and savings account rates experienced a slight reduction in rates. The average rate on the top ten best bank money market accounts and bank savings moved less than a basis point to an average rate of 1.140 percent.

Mortgage rates were lower for all terms measured in the weekly bank rate survey. The rate reductions for mortgages were relatively minor by the close of the week. The average 30 year mortgage rate was down by a hair over five basis points pushing the average mortgage rate on the 30 year loan from the top ten bank mortgage lenders to 4.887 percent. The 15 year mortgage rate dropped by similar sum with the average mortgage rate on the 15 year coming in at 4.146 percent.

The 20 year mortgage rate lost approximately two basis points making the average 20 year arte 4.725 percent. The average 30 year FHA mortgage rate was lower by the same amount which brought the average FHA loan rate to rate 4.750 percent.

Credit card rates went in the opposite direction of all other bank rates in the weekly survey. Credit card rate have been quite stable for the better part of 2011. This past week the average rate on new credit card offers ticked up just a smidgen to 13.71 percent from 13.70 percent in the previous week.

Treasury rates followed, or led depending on how you want to see it, bank rates and moved lower on the week. Six month Treasury rates dipped one basis point from 0.12 percent to 0.11 percent. The one year Treasury rate was also down by one basis point to 0.23 percent. The two year Treasury rate was down by three basis points to 0.68 percent. The five year was unchanged at 2.14 percent and the long term, ten year Treasury rate gave back one basis point to yield 3.42 percent.

All bank rates are based on surveys conducted by at the close of April 22, 2011 with all of the interest rates obtained directly from the banks within the survey. Treasury rates are obtained directly from the Department of the Treasury.

Additional bank rate resources 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, 10 year mortgage rates, jumbo mortgage rates, CD rates California, Best Interest Checking Accounts, Best Rates on CDs and Best Credit Card Rates.

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