BEST DEPOSIT RATES
|Online Saving Accounts||1.00% APY|
|1 Year Online CDs||1.05% APY|
|3 Year Online CDs||1.40% APY|
|5 Year Online CDs||3.04% APY|
|Online Checking||0.85% APY|
|Rewards Checking||3.01% APY|
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Rates and Information to Help You Save & Borrow
AVERAGE LOAN RATES
|30 Year Fixed Mortgage||4.42% APR|
|15 Year Fixed Mortgage||3.61% APR|
|5 Year ARM||2.92% APR|
|Home Equity Line||4.39%|
|10 Year Home Equity||5.77%|
|3 Year Auto Loan||3.26%|
INTEREST RATE ANALYSIS
By Sol Nasisi
December 5, 2013 - Consumer confidence is at a two month high, propelled by income gains and falling unemployment claims. In addition, third quarter GDP growth was revised upward to a 3.6 percent annualized rate, a robust number. U.S. stock markets have fallen for the last four days on expectations that the Fed may begin to ease back on its bond buying program, driving up rates and puncturing the soaring stock market. If you own stocks or bonds, be wary.
Average deposit rates, as shown on the chart below, remained flat at the beginning of December but should continue to climb if the Fed does indeed ease up on its stimulus.PenFed increased the rate on its five year CD to above 3.04% APY, the first time a nationally available CD has broken the 3% range in over a year. If the ecomony continues to improve, look for the trend of rising rates, especially longer-term CD rates to continue.
CD & ONLINE SAVINGS RATE TRENDS
Information to Help You Save
- How Much of Your Money Should Be in Cash?
- Compare Savings Accounts to Other Income Generating Investments
- The Difference Between Banks and Credit Unions
- How to Decide Whether to Open a Shorter or Longer Term CD
- Rewards Checking Accounts - Free High Yield Checking with Activity Requirements
- See All Savings and CD Articles
Information to Help You Borrow