BEST DEPOSIT RATES
|Online Saving Accounts||1.00% APY|
|1 Year Online CDs||1.06% APY|
|3 Year Online CDs||1.40% APY|
|5 Year Online CDs||2.30% 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||4.51% APR|
|15 Year Fixed Mortgage||3.68% APR|
|5 Year ARM||2.91% APR|
|Home Equity Line||4.36%|
|10 Year Home Equity||5.72%|
|3 Year Auto Loan||3.17%|
INTEREST RATE ANALYSIS
By Sol Nasisi
April 7, 2014 - We just started the second quarter of 2014 and I wanted to check bank rates and see how they are doing compared to my forecast. At the beginning of the year, in my 2014 Savings Rate Outlook, I made the following predictions.
My outlook: Savings account rates will stay flat through 2014 although online savings account rates may increase by 20-30 percentage points. I project the highest online savings account next year will yield 1.75% APY. Short term savings rates will edge up slightly but longer term CDs (3-5 year) will continue the trend we have seen over the past six months and continue to move up. I expect we'll see the biggest increases in these longer duration CDs. We already have one credit union (PenFed) offering a 3%+ APY five year CD. Look for this trend to continue.
So, how are these predictions doing? Find out by reading my Bank rate update.
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