Bank rates were little changed for the week ending June 10th, 2011. Mortgage rates were up slightly on longer term home loans and down very modestly on shorter term loans. CD interest rates dipped by the smallest of margins on the week. Savings account rates and money market account rates manage to squeeze out an increase in yield and credit card rates moved lower by just one basis point by the end of the week.

The changes in bank rates pretty much mirrored the action in Treasury rates. Six month Treasury rates ended the week right where they started at 0.10 percent. One year Treasury rates ticked up one basis point or 1/100th of a percent to 0.19 percent. Five year Treasury rate gave up two basis points to close down at 1.58 percent and the ten year Treasury yield stayed put at 2.99 percent.

The weekly bank interest rate survey includes a summary of bank mortgage rates and lending rates, savings rates, CD rates as well as a summary of Treasury rates. The results for the survey dated June 10th, 2011 included the following 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 1.375 percent (down .001 percent)
3 month CD rates 0.633 percent (down .021 percent)
6 month CD rates 1.000 percent (down .010 percent)
1 year CD rates 1.258 percent (down .001 percent)
2 year bank CD rates 1.493 percent (down .006 percent)
5 year CD rates 2.492 percent (up .035 percent)

Money market and savings account rates:
Bank money market rates and savings account rates 1.128 percent (up .019 percent)

Mortgage rates:
30 year mortgage rate 4.572 percent (up .005 percent)
15 year mortgage rate 3.730 percent (down .028 percent)
20 year mortgage rate 4.363 percent (up .025 percent)
30 year jumbo mortgage rate 4.825 percent (up .012 percent)
30 year FHA mortgage rate 4.413 percent (down .037 percent)

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

Treasury rates:
Six month Treasury rate 0.10 percent (unchanged)
Two year Treasury rate 0.41 percent (down .01 percent)
Five year Treasury rate 1.58 percent (down .02 percent)
Ten year Treasury rate 2.99 percent (unchanged)

The CD interest rate index dipped by the smallest measurement on the week, the index was down by just 1/1000th of a percent. The CD interest rate index closed the week at 1.375 percent after moving down to 1.376 percent in the previous week. The CD rate index is a measure of 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.

The best three month CD rates lost the most ground and gave up just over two basis points, bringing the average yield for three month bank CDs to 0.633 percent. The average rate for the highest six month CD rates shed one basis point pushing the average rate to 1.000 percent. The best one year CD rates hardly moved, giving up 1/1000th of a percent to put the average interest rates on one year CDs at 1.258 percent.

Two year CD rates were lower by less than one basis point as well. The rate offered on the best two year bank CDs ended the week at 1.493 percent from 1.499 percent in the preceding week. The top five year CD rates gave up just over one basis point or 1/100th of percent. Five year CD rates actually gained in yield. The average rate for the top ten best five year CDs rose to 2.492 percent from 2.457 percent last week.

Savings account rates and money market account rates moved higher this week for the first time in several weeks. The rate increase was far from earth shattering but this category had been experiencing a steady decline in yield for most of the second quarter of this year. The average rate for the top ten highest bank savings account rates and money market account rates gained just under two basis points to rise up to 1.128 percent from 1.109 percent in the previous week.

Mortgage rates ended the week mixed with half of the mortgage products measured experiencing an increases in rate and the other half moving lower. The average 30 year mortgage rate was higher by less than one basis point to 4.572 percent. The average 15 year mortgage rate moved in the opposite direction and moved down by just under three basis points to 3.730 percent.

20 year mortgage rates reversed the action of the 15 year rates and moved higher by just three basis points. The average 20 year mortgage rate in the survey reached 4.363 percent for the week. 30 year jumbo mortgage rates also increased this past week but by a very small margin. The average jumbo mortgage rate increased to 4.825 percent from 4.813 percent in the previous week. FHA mortgage rates shifted in the other direction and closed lower with the average 30 year FHA mortgage rate dropping to 4.413 percent.

Credit card rates for new credit card offers chopped off one basis point from the average rate. The average credit card rate for new credit card offers from the nation’s largest credit card companies came in at 13.72 percent. Once again, credit card companies are promoting introductory credit card rates and credit card reward programs to attract new customers while leaving the interest rates for standard credit card purchases alone.

All bank rates are based on surveys conducted by at the close of June 10th, 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 for mortgage rates, CD rates, credit card rates and savings account 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, 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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