Bank lending rates managed slight improvements over the past week while savings rates showed little change.  Rate reductions were mostly muted though the interest rates were lower for most all of the bank lending products in the weekly bank rate survey.  Savings rates were up and down depending on the product but held within a tight range.  Mortgage rates displayed the greatest rate reduction on the week but even the change in these bank loan products was quite restrained.

Improved economic results in the labor markets and stronger manufacturing growth have provided a positive environment recently that has driven bond prices lower and interest rates higher.  While these positive economic results are not imaginary, the work of the Fed and the slowdown in the economic growth outlook for Asia is keeping a lid on overly positive forecasts and rising rates. 

Based on the most recent survey of bank rates conducted by on March 23, the average rate offered on new bank CDs was lower by just 1/1000th of a percent, a near unnoticeable rate change.  The average interest in the survey slipped to 1.052 percent from 1.053 percent in the previous week.  The average CD interest rate in the survey is a composite measurement of the top ten highest three month CD rates, six month CD rates, one year CD rates, two year CD rates and five year CD rates.

Of the five maturities measured in the survey, only the six month CDs, two year and five year CDs showed a change in the average rate.  The largest change came in the six month term category which dropped by 5/1000ths of a percent.  The average rate for the best six month CD rates closed out at 0.754 after starting the week with an average interest rate of 0.759 percent.  The two year CDs were off by just 1/1000th of a percent and the five year CDs were down by 2/1000ths of a percent.

Mortgage rates in the weekly survey were dropped for the 30 year fixed rate loans to the jumbo loans and even the short term, ten year home loans.  The average rate coming from the top ten bank mortgage lenders on the 30 year fixed rate mortgage drifted down to 4.137 percent.  The current survey results on this term home loan are lower by 4.5 basis points compare to the prior week. 

Jumbo mortgage rates were cheaper by seven basis points which pushed the average jumbo loan rate down to 4.488 percent from 4.559 percent in the week earlier.  30 year FHA mortgage loans dropped by six basis points on the week which pushed the average rate on these loans under 4.00 percent once again to an average rate of 3.950 percent.

The ten year mortgage rates, 15 year mortgage rates and twenty year mortgage rates were less costly by similar amounts, week over week. 

Credit card rates on average, displayed a one basis point drop in rate this past week.  The average rate on new card offers was pushed down to 13.67 percent from 13.68 percent in the week earlier.  The rate change for the national credit card rates was driven by rate reductions in low rate credit card offers and balance transfer credit card offers.  The vast majority of the credit card categories survey showed no change or rate changes of less than one basis point.

After moving lower for several weeks, bank savings account rates and money market rates ended the higher than where they started.  The average bank savings account and money market rate available measured by the top ten best bank rates was up by 3/1000ths of a percent.  The average rate now stands at 0.880 percent after holding at 0.877 percent for two consecutive weeks.

Treasury rates moved lower for the mid and long term maturities while moving slightly higher on the shorter term securities.  Six month Treasury bills climbed one basis point to 0.15 percent.  One year rates held steady at 0.19 percent.  The five year Treasury rate has being showing the greatest volatility recently was down by six basis points to 1.04 percent.  The long term, 10 year Treasury rate was down by just a tad, falling two basis points to 2.23 percent.

The weekly bank rate survey results listed below provides a detailed report on bank savings rates and lending rates by category for the week ending March 30, 2012.  The weekly rate survey presented the following interest rates and their 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 1.052 percent (down .001 percent)
3 month CD rates 0.494 percent (unchanged)
6 month CD rates 0.754 percent (down .005 percent)
1 year CD rates 1.049 percent (unchanged)
2 year bank CD rates 1.161 percent (down .001 percent)
5 year CD rates 1.800 percent (down .002 percent)

Money market and savings account rates:
Bank money market rates and savings account rates 0.880 percent (up .003 percent)

Mortgage rates:
30 year mortgage rate 4.137 percent (down .045 percent) 
15 year mortgage rate 3.400 percent (down .039 percent) 
20 year mortgage rate 3.917 percent (down .063 percent) 
30 year jumbo mortgage rate 4.488 percent (down .071 percent)
30 year FHA mortgage rate 4.950 percent (down .063 percent) 

Credit card rates:
Credit card rates for new credit card offers 13.67 percent (down .01 percent)

Treasury rates:
Six month Treasury rate 0.15 percent (up .01 percent)
One year Treasury rate 0.19 percent (unchanged) 
Two year Treasury rate 0.33 percent (down .04 percent)
Five year Treasury rate 1.04 percent (down .06 percent)
Ten year Treasury rate 2.23 percent (down .02 percent) 

All bank savings rates and lending rates are based on surveys conducted by at the close of March 30, 2012 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.  

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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