The trend of lower bank rates remains intact. Bank savings and lending rates continued their year long slide with another down week with the week ending September 24, 2010. Good news for those who are borrowing, bad news for those who are saving.

On the borrowing side of the equation, mortgage rates were noticeably lower while credit card rates remained unchanged. For the investing or savings side of bank rates, bank CD interest rates dropped whereas bank money market and savings accounts rates remained unchanged.

Mortgage rates were lower for both the 30 year and 15 year fixed rate loan and continue to hover at record lows. The average 30 year mortgage rate from the top ten bank mortgage lenders surveyed by dropped down to 4.492 percent with .313 points. The average 15 year mortgage rate moved down to 3.892 percent with .375 points

Credit card rates for new credit card offers held steady at 13.71 percent. While the average rate for all credit card categories was unchanged the rate for travel reward credit cards dipped lower and the rate on new credit card offers for cash back cards increased. The composite index for all offers on purchase transactions was unaltered on the week.

Bank money market account rates and savings account rates remained stable for the week. The composite index of the top ten bank money market account rates and bank savings account rates was left unmoved at 1.28 percent

The best CD interest rates dropped modestly. The average CD interest rate for the top ten best CD rates for all maturities surveyed fell by just one basis point or 1/100 of a percent.
The bank CD rate composite average rate ended last week at 1.58 percent down from 1.593 percent in the previous week.

CD rates on the long end of the yield curve were hit the hardest, dropping five basis points from 2.79 percent in the prior week to 2.74 percent this week. All other CD terms surveyed fell by one basis point with the 3 month CD rates dipping down to 0.78 percent, 6 month CD rates hitting 1.13 percent, one year CD interest rates falling to 1.48 percent and the two year CD rate closing at 1.77 percent.

U.S. Treasury rates were also lower on the week, with rates dropping across the curve. Six month Treasury rates dipped just one basis point to end Friday at 0.19 percent. The one year Treasury rate was also down one basis point, closing at 0.25 percent. Longer rates however, changed by a larger degree with the five year dropping nine basis points to 1.37 percent and the ten year falling 13 basis points to 2.62 percent.

All bank rates are based on surveys conducted at the close of September 24, 2010. Treasury rates are obtained directly from the Department of the Treasury.

For more information on the best CD rates by term refer to the following pages; 6 month CD rates, 1 year CD rates, 2 year CD rates and 5 year CD rates. For more information on current mortgage rates refer to the 30 year mortagge rates table or the 15 year mortgage rates table rates page. For state CD rates refer to the pages identified by state such as CD rates California, CD rates New Jersey, CD rates New York, CD rates Florida, CD rates Washington, CD rates Illinois, CD rates Virginia and more. For credit crad rate infomation please see credit card listings at credit cards.

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