Bank rates and Treasury rates moved in opposite directions over the past week. Treasury rates ended the week lower across all terms with the exception of the ultra short Treasury bills. While Treasury rates moved lower, bank mortgage rates moved higher and CD interest rates remained predominantly unchanged.

The Treasury market improved with rising prices and lower rates as the stock market continued to move in jagged path to the downside and world economic uncertainty put a pall on any sign s of market enthusiasm.

The weekly bank rate survey included the following interest rate changes for the week ending May 20th, 2011 on mortgage rates, CD rates, credit card rates, money market rates, savings rates and Treasury rates:

CD interest rates:
Composite CD interest rate index 1.384 percent (up .001 percent)
3 month CD rates 0.649 percent (up .011 percent)
6 month CD rates 1.013 percent (down .001 percent)
1 year CD rates 1.256 percent (up .01 percent)
2 year bank CD rates 1.504 percent (down .003 percent)
5 year CD rates 2.500 percent (down .012 percent)

Money market and savings account rates:
Bank money market rates and savings account rates 1.147 percent (unchanged)

Mortgage rates:
30 year mortgage rate 4.750 percent (up .027 percent)
15 year mortgage rate 3.923 percent (up .038 percent)
20 year mortgage rate 4.525 percent (up .037 percent)
30 year jumbo mortgage rate 4.975 percent (down .025 percent)
30 year FHA mortgage rate 4.563 percent (up .013 percent)

Credit card rates:
Credit card rates for new credit card offers 13.73 percent (up .01 percent)

Treasury rates:
Six month Treasury rate 0.10 percent (up .02 percent)
Two year Treasury rate 0.55 percent (down .02 percent)
Five year Treasury rate 1.82 percent (down .04 percent)
Ten year Treasury rate 3.15 percent (down .03 percent)

CD interest rates were little changed on the week. The composite CD rate index was up by just 1/1000th of a percent for the week, leaving the average rate for the top ten 3 month CD rates, six month CD rates, one year CD rates, two year CD rates and five year CD rates at 1.384 percent. The index stood at 1.383 percent during the previous week.

The average rate for the top three month CD rates edged up slightly to 0.649 percent from 0.638 percent in the week earlier. The best six month CD rates moved to the downside by the slightest of margins, dipping to 1.013 percent from 1.014 percent in the preceding week. The highest one year CD rates were up by one basis point or 1/100th of a percent to 1.256 percent. The average rate on the best two year CD rates also moved by a very slight margin, dropping to 1.504 percent from last week’s average rate of 1.507 percent. The average five year CD rates lost just over one basis point to end the week at 2.500 percent.

The top bank money market rates and savings account rates remained put this week. The average interest rate offered on the ten highest bank money market accounts and bank savings accounts held at 1.147 percent.

Mortgage rates moved higher on the week with the exception of jumbo home loans which took a small haircut on the average rate. The rate changes for the week were very modest across all home loan products measured.

30 year mortgage rates from the top ten bank mortgage lenders moved up just over two basis points to an average rate of 4.750 percent. 15 year mortgage rates were up by almost five basis points to an average interest rate of 3.923 percent. The 20 year mortgage rate increased by a similar amount, pushing the average 20 year mortgage rate to 4.525 percent on the week.

FHA mortgage rates had a small rate increase with the average 30 year FHA home loan in this week’s survey having a rate of 4.563 percent. Jumbo mortgage rates did drop down by a relatively small increment. The average 30 year jumbo mortgage rates came in at 4.975 percent, beneath last week’s average rate of 5.000 percent in the previous week.

Credit card rates continued to move in a very narrow range. For the week, the average interest rate for new credit card offers increased by just one basis point. Over one half of the credit card rate offers in the survey experienced no change in rate. The average rate for new credit cards, excluding introductory credit cards rates moved up to 13.73 percent.

Treasury rates were lower by the close of the week with the exception of the six month rate. The six month Treasury rate was the outlier term with a rate increase of two basis points to 0.10 percent. The one year Treasury dropped one basis point to 0.18 percent. The two year Treasury rate lost two basis points to close at 0.55 percent. Five year rates were lower by four basis points to 1.82 percent. The ten year Treasury rate was also down by three basis points with a rate of 3.15 percent.

All bank rates are based on surveys conducted by at the close of May 20, 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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