BEST DEPOSIT RATES
|Online Saving Accounts||1.00% APY|
|1 Year Online CDs||1.12% APY|
|3 Year Online CDs||1.50% APY|
|5 Year Online CDs||2.30% APY|
|Online Checking||0.80% APY|
|Rewards Checking||5.09% APY|
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Rates and Information to Help You Save & Borrow
AVERAGE LOAN RATES
|30 Year Fixed Mortgage||4.26% APR|
|15 Year Fixed Mortgage||3.53% APR|
|5 Year ARM||2.99% APR|
|Home Equity Line||4.33%|
|10 Year Home Equity||5.61%|
|3 Year Auto Loan||3.13%|
INTEREST RATE ANALYSIS
By Sol Nasisi
September 8, 2014 - Last month's disappointing increase in employment (just 142,000 jobs added) continued the see-saw movements we've seen in the labor market since 2010. With job growth subdued and inflation still coming in at or near 2%, there is very little pressure on interest rates. As a result, while long-term CD rates continue to drift up, shorter term CDs and savings accounts remain stuck. There is nothing on the horizon to indicate any dramatic shift in the rates over the next six months. As the labor market goes, so go rates.
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
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