Bank rates and bond rates were little changed during the week of Thanksgiving.  Trading was quite slow during the week with markets closed on Thursday and volume extremely light on Friday.  In fact, even while the markets were opened for a shortened session on Friday, it turned out to be one of the slowest trading days of the year.

Since bank rates, including mortgage rates and CD rates, are highly dependent on the direction of the bond markets, liquidity considerations can impact markets more than any data or news that may be released.  And, of course, that was case this past week with very little movement in the interest rate markets as traders consolidated their positions during the short trading week.  Breaking news that Turkey had shot down a Russian jet early in the week caused stocks and bond yields to move lower but the reaction was limited and the markets seemed to ignore the crisis or potential crisis that may have unfolded.

With low trading volume and mostly ho hum economic news getting released, interest rates were little changed week over week.  The domestic bond market barely budged with rates moving by no more than six basis points across the yield curve. One basis points is the equivalent of 1/100th of a percent (0.01%).  This lack of action in the bond market led to little or no changes in bank savings and lending rates.

The biggest mover in the Treasury market was the five year Treasury note which gave up six basis points, moving from 1.70% at the start of the week to 1.64% at week’s end.  The ten year Treasury bond dipped by four basis points, closing the week with an interest rate of 2.22%.  The ten year spent the week with a yield that never deviated too far from 2.25%.

There was some divergence between short and long term rates through the week.  While long term Treasury rates were cut back slightly, short term rates moved a few ticks higher.  The six month Treasury rate bumped up to 0.38% at the close of the week from 0.35 percent at the start.  The one year Treasury gained one basis point, going up to 0.50% from 0.49%.

One significant data point in the short term Treasuries is the run up in the six month bill in November.  The six month Treasury bill saw a brief jump in mid-summer when it trading in the mid 20’s before dropping back down. November, is the first time in 2015 that the six month yield closed above 0.30% and it has stayed above that figure every day of the month since November 6th.

All of this inactivity held bank rates in a narrow range.  The best CD rates available across the country were unchanged for the week.  The top yields on six month bank CDs on up to the five year certificates showed no adjustment from the previous week.  The highest yielding bank money market account rates and savings account rates were also unaltered. Mortgage rates did climb slightly higher.  The benchmark, 30 year fixed rate mortgage at the nation’s leading bank mortgage lenders, moved up to 4.051% from 4.047%.  FHA mortgage rates were up by a similar amount, ending the week at 3.838%.  Jumbo 30 year mortgage rates showed a minor reduction, slipping to 3.790% from 3.803% in the week earlier.

Bank rates market recap for November 30, 2015:

CD interest rates:
Composite CD interest rate index 1.232 percent
3 month CD rates 0.436 percent
6 month CD rates 0.850 percent
1 year CD rates 1.250 percent
2 year CD rates 1.419 percent
5 year CD rates 2.204 percent

Money market and savings account rates:
Bank money market rates and savings account rates 1.060 percent

Mortgage rates:
30 year mortgage rates 4.051 percent
15 year mortgage rates 3.355 percent
20 year mortgage rates 3.800 percent
30 year jumbo mortgage rates 3.790 percent
30 year FHA mortgage rates 3.838 percent

Credit card rates:
Credit card rates for new credit card offers 13.88 percent

US Treasury rates:
Six month Treasury rate 0.38 percent
One year Treasury rate 0.50 percent
Two year Treasury rate 0.92 percent
Five year Treasury rate 1.64 percent
Ten year Treasury rate 2.22 percent

All bank savings rates and lending rates are based on surveys conducted by at the close of November 27, 2015 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 interest rate data on current mortgage rates, CD rates, credit card rates, and savings account rates for the week ending November 27, 2015 can be found at the following interest rate tables:  3 month CD rates, 6 month CD rates, 9 month CD rates, 1 year CD rates, 2 year CD rates, 4 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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