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Rates and Information to Help You Save & Borrow

AVERAGE LOAN RATES

30 Year Fixed Mortgage 4.24% APR
15 Year Fixed Mortgage 3.52% APR
5 Year ARM 2.94% APR
Home Equity Line 4.33%
10 Year Home Equity 5.63%
3 Year Auto Loan 3.14%

INTEREST RATE ANALYSIS

By Sol Nasisi
August 8, 2014 - The Labor Department reported another month of 200,000+ job growth, with 209,000 jobs added in July. The unemployment rate edged up to 6.2 percent as more job seekers entered the labor force. Several local Fed Presidents have stated that they expect rates to move higher before the end of the year. Appearing on CNBC, Dallas Fed President Richard Fisher said that he expects the date for a rate hike has moved up substantially. Philadelphia Fed President Charles I. Plosser speaking separately said he wants rates to move significantly higher before the end of the year.

On the deposit side, we've seen longer-term CD rates edge up while short term rates have continued to gradually drift down. We've seen a few small increases in savings rates but the general trend has also been down.

On the lending side, mortgage, home equity, and auto loan rates continue to stay near record lows. While mortgage rates are above the record lows we saw in December 2012, they have come down from a recent peak in 2013 and historically speaking are still at very low levels. If you are thinking of buying a home, mortgage rates are still your friend. Home equity and auto loan rates have not moved much at all from their record low levels.

You can see these rate trends on our Savings, CD, and Mortgage Rate trends page.

CD & ONLINE SAVINGS RATE TRENDS

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