BEST DEPOSIT RATES
|Online Saving Accounts||1.00% APY|
|1 Year Online CDs||1.10% 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||4.24% 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
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