It was a good week for the markets with CD rates moving marginally higher, providing the smallest level of relief for new savers, mortgage rates have slipped once again, helping new home loan borrowers and credit card rates are chugging along doing their part not to rock the boat.

Causes for celebration in the improving bank rate picture are based on the temporary relief provided by putting the government shut down fiasco behind us, market acceptance the Federal Reserve will continue to buy mortgage bonds and Treasury bonds through the end of the year with the taper nowhere in sight, world markets and economies picking up steam, and the U.S. markets may finally get focused once again on business growth and jobs growth.

Following the previous week’s improvements in mortgage rates, the market has seen some lower mortgage interest rates for the week ending October 25th as well.  The standard 30 year fixed rate home mortgage ended the week with an average rate of 4.213%, according to the most recent bank rate survey conducted by  As for the other popular 30 year fixed rate mortgages, 30 year FHA loans and 30 year jumbo mortgages, the current mortgage rate for these products dropped has fallen by approximately five basis points over the past five business days pushing the average rates down to 4.127% on the 30 year jumbo rate and 3.908% for the FHA loans.

US deposit rates covering the top ten best certificates of deposit rates and savings account rates advanced slightly on the week.  The rates for certificates of deposits (CDs) climbed higher along the midterm accounts.  CD rates on short term maturities were unchanged and the longer terms were subject to a mild rate drop over the past week. 

The weekly bank rate survey identifies the top 10 CD rates across multiple terms to provide a composite index of the best CD rates available nationally.  The average rate in the CD rate index was boosted by 5/1000ths of a percent on the week pushing the average rate up to1.049% from 1.044% in the previous week.

Three month CD rates were unchanged at 0.401%.  Six month CD rates climbed one basis point to 0.747%.  One year and two year CD rates also moved higher closing the week at 1.008% and 1.148%, respectively. The five year term CD accounts gave up some yield, dropping by 5/1000ths of a percent to 1.940%.

High yield savings account rates and money market account rates squeaked out an increase in the average rate of return.  The rate found on the top ten highest savings account and money market account rates clawed higher by 2/1000ths of a percent to 0.862%.

Credit card rates held firm for the second week running.  With low borrowing rates and low delinquency rates, credit card companies continue to be in a position to print profits and should be in no rush to raise their consumer card rates.  For most of the year this has been the case, and this past week was no exception.  The average rate for new credit cards offered to consumers was unaltered form the prior week at 13.82 percent.

The weekly bank rate survey provides a detailed report on bank savings rates and lending rates by different consumer rate categories.  The most current survey is for the week ending October 25, 2013.  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.

Bank Rates Market Recap for October 25, 2013

CD interest rates:
Composite CD interest rate index 1.049 percent (up .005 percent)  
3 month CD rates 0.401 percent (unchanged)  
6 month CD rates 0.747 percent (up .01 percent)  
1 year CD rates 1.008 percent (up .005 percent)  
2 year CD rates 1.148 percent (up .016 percent) 
5 year CD rates 1.940 percent (down .005 percent)

Money market and savings account rates:
Bank money market rates and savings account rates 0.862 percent (up .002 percent) 

Mortgage rates:
30 year mortgage rates4.213 percent (down .095 percent)  
15 year mortgage rates 3.396 percent (down .054 percent)  
20 year mortgage rates 4.065 percent (down .068 percent) 
30 year jumbo mortgage rates 4.127 percent (down .05 percent) 
30 year FHA mortgage rates 3.908 percent (down .085 percent)

Credit card rates:
Credit card rates for new credit card offers 13.82 percent (unchanged)

US Treasury rates:
Six month Treasury rate 0.08 percent (unchanged) 
One year Treasury rate 0.11 percent (down .01 percent)
Two year Treasury rate 0.32 percent (down .01 percent)
Five year Treasury rate 1.30 percent (down .05 percent)
Ten year Treasury rate 2.53 percent (down .07 percent)

All bank savings rates and lending rates are based on surveys conducted by at the close of October 25, 2013 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 detailed interest rate data on mortgage rates, CD rates, credit card rates and savings account rates for the week ending October 25, 2013 please see: 9 month CD rates, 3 year CD rates, 4 year CD rates, 20 year mortgage rates, VA mortgage rates, and the best interest checking accounts .

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