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Posts Tagged With 'Cd Rates'

CD Rates Move Higher as Mortgage Rates and Credit Card Meander

As July started to come to a close, CD rates finally got off their perch and started to follow the higher yields of the mid and long term bond rates that we have experienced in the previous weeks and marched slightly higher.?? Mortgage rates experience no such delay in pricing or inelasticity and with little action in the mortgage bond market over the course of the week; consumer mortgage rates were little changed.?? Credit card rates held steady as the top credit card companies continue to print cash with high borrowing costs pushed on to the credit card holders in the form of relatively high credit card rates, low borrowing costs for the credit card issuer and lower delinquency rates and charge off figures.?? This formula leads to a cash generating machine.

As the week ending July 26 came to a close, the Treasury market showed very little change on the short end of the yield curve and only modest rate increases on the long end.?? Six month Treasury rates and one year Treasury rates were unchanged on the week with the six month Treasury rate holding at 0.07% and the one year remaining at 0.11%.?? Long term Treasuries were a bit more active with the five year Treasury rate popping up five basis points to 1.36% and the ten year jumping eight basis points to 2.58%.

The change in Treasury yields had little impact on new home loan borrower???s mortgage rates.?? 30 year mortgage rates at the nation???s top bank mortgage lenders barely budged this past week.?? The average rate on the 30 year conventional home loan was nudged up to 4.501% from 4.506 percent in the previous week.???? FHA mortgage rates slipped by a slim margin as did the 30 year jumbo mortgage rates.?? The average rate found on the FHA loans with a 30 year term was 4.238%, compared to 4.243 percent in the prior week.?? 30 year jumbo loan rates slipped to 4.429% after closing at 4.461 percent in the week earlier.????

Most short term certificates of deposit rates were little changed over the course of the week with the big rates changed coming from the longer term maturities.?? The CD rate index was up by one full basis point to break past 1.00% for the first time in several weeks.?? The CD rate index ended the week at 1.004%.????

The best three month CD rates and six month CD rates were unchanged this week and the one year term certificates were up by just 1/1000th of a percent.?? The top two year CD rates increased by 5/1000ths of a percent to an average interest rate of 1.130%.?? Five year CD rates made in two weeks in a row with major advances in the average yield.?? The rate coming from the top ten highest five year CD rates was ratcheted up to 2.58% from 2.50% in the preceding week.

Bank money market account rates, savings account rates and credit card rates were unchanged for the week.?? The top ten highest savings account rates and money market rates remained at 0.903 percent for the second consecutive week.?? The best credit card rates on the market stayed at 13.78 percent, this was the second consecutive week of non change for this bank rate as well.

The weekly bank rate survey provides a detailed report on bank savings rates and lending rates by consumer rate category.?? The most current survey is for the week ending July 26, 2013.?? The weekly rate survey presented the following interest rates and their changes for mortgage rates, CD interest rates, credit card rates, money market rates, savings account rates and Treasury rates.

Bank Rates Market Recap for July 26, 2013

CD interest rates:
Composite CD interest rate index 1.004 percent (up .01 percent)??
3 month CD rates 0.417 percent (unchanged)??
6 month CD rates 0.703 percent (unchanged)??
1 year CD rates 0.981 percent (up .001 percent)??
2 year CD rates 1.130 percent (up .005 percent)??
5 year CD rates 1.787 percent (up .04 percent)??

Money market and savings account rates:
Bank money market rates and savings account rates 0.903 percent (unchanged)

Mortgage rates:
30 year mortgage rates??4.501 percent (down .005 percent)????
15 year mortgage rates 3.604 percent (up .019 percent)??
20 year mortgage rates 4.378 percent (up .015 percent)??
30 year??jumbo mortgage rates 4.429 percent (down .032 percent)??
30 year??FHA mortgage rates 4.238 percent (down .005 percent)

Credit card rates:
Credit card rates for new credit card offers 13.78 percent (unchanged)

US Treasury rates:
Six month Treasury rate 0.07 percent (unchanged)??
One year Treasury rate 0.11 percent (unchanged)
Two year Treasury rate 0.31 percent (down .01 percent)
Five year Treasury rate 1.36 percent (up .05 percent)
Ten year Treasury rate 2.58 percent (up .08 percent)

All bank savings rates and lending rates are based on surveys conducted by at the close of July 26, 2013 with all of the interest rates obtained directly from the banks within the survey.?? Treasury rates are obtained directly from the Department of the Treasury.????

Additional bank rate data is available to help consumer shop and compare mortgage rates, CD rates and checking accounts for the week ending July 26, 2013 at the following rate tables:?? 9 month CD rates, 3 year CD rates, 4 year CD rates, 10 year mortgage rates, VA mortgage rates, ??best interest checking accounts.

2-Year CD Rates Deal of the Day: MECE Credit Union at 1.51% APY

Missouri Electric Cooperatives Employees??? (MECE) Credit Union is offering competitive 24-month CD rates for its members. Currently, the rate is offered at 1.51% APY for a standard certificate of deposit.

The credit union offers a number of rates based on the length of term. In addition to the standard rate for the 24-month CD, the highest CD rates for the term include 1.61% APY for the Jumbo CD and 1.66% APY for the Jumbo Plus. The minimum to open that standard CD is $500, while the minimums for the Jumbo and Jumbo Plus are $10,000 and $100,000, respectively. To take advantage of any rates, you must become a member, which is open to employees and associates of Missouri electric cooperatives.

MECE Credit Union opened its doors in 1975 with seven founding members. Currently, the credit union has over 7,500 members and expects to continue growing.

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Tri-Rivers Federal Credit Union CD Rates Deal of the Day: 6-Month CD at .65% APY

Tri-Rivers Federal Credit Union is currently offering a stellar rate on their CD rates. Tri-Rivers Federal Credit Union is a member-owned credit union offering members the opportunity to meet their personal savings goals, which is why they are providing a 6-month CD at .65% APY.

Only members are eligible to open a certificate of deposit account with this credit union. There is a $500 minimum deposit in order to receive the interest on this account and rates may change at any time. There may also be a penalty for early withdrawal.

Tri-Rivers Federal Credit Union has been serving members for the past 47 years. They provide excellent financial services at a very low-cost to help families and members reach financial freedom and success. You may be eligible for membership with Tri-Rivers CU if you live, work, study or worship within the seven-county area around the Capital City–Montgomery, Butler, Crenshaw, Autauga, Elmore, Macon and Lowndes.

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Texas Capital Bank CD Rates Deal of the Day: 6-Month CD at .60% APY

Texas Capital Bank is a front-runner in providing excellent financial services for individuals, families and businesses in Texas. Among this bank’s great offers are some of the best CD rates currently available, like the six month CD rate of .60% APY.

In order to be eligible for this CD rate, there is a $1,000 minimum balance requirement when opening a CD account. There is also an early withdrawal penalty on accounts that have not yet matured. The APY is calculated based on a one-year time frame. If you allow your interest to add back to the principal over a one-year time period, the APY is what you will receive.

Texas Capital Bank is a commercialized bank that is able to help you solve your financial issues. They have some of the best and most experienced bankers in the entire state that are available to help you get your deals settled quickly as well as assist you in reaching your personal wealth goals.

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24-Month CD Rates Deal of the Day: Bank of Clarkson at 2.01% APY

The most competitive interest rates, including the best CD rates, are usually found at your community bank. That’s why Kentucky residents may want stop by Bank of Clarkson. This local bank is offering customers a great 2 year CD rate of 2.01% APY.

A minimum deposit of $500 is required to earn this CD rate. The interest is paid at maturity and early withdrawal will reduce your earnings. CD accounts are automatically renewed at maturity unless you advise the bank otherwise.

Bank of Clarkson is part of the First Breckinridge Bancshares holding company, which includes First State Bank, West Point Bank and River City Bank as well. Bank of Clarkson is a community bank that seeks to meet the needs of its customers with superior products and excellent customer service.

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6-Month CD Rates Deal of the Day: Cherokee Bank at 1.20% APY

The product niche of Cherokee Bank is small business lending, but this bank also offers some of the highest CD rates to individuals as well. Cherokee Bank is currently providing a six month CD rate of 1.20% APY.

A minimum deposit of $1,000 is needed to earn this CD rate. There is a penalty for early withdrawal and rates are subject to change without notice.

Cherokee Bank began in 1999. Its professional staff of about 40 employees have a total of 730 combined years of experience in the banking industry, with an area of expertise in small business lending. Its size and structure allow lenders to make fast and personal decisions regarding loan applications, as well as implement new services and technology quickly.

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12-Month CD Rates Deal of the Day: Century Bank of Georgia at 1.77% APY

Century Bank of Georgia wants to be your bank, and they’re earning your loyalty by offering the highest CD rates. Right now, consumers can earn a one year CD rate of 1.77% APY.

In order to obtain this great CD rate, you must understand the terms and conditions of this account. A $1,000 minimum opening deposit is required, a penalty will apply if you withdraw early and rates are subject to change at any time.

Century Bank of Georgia is an independent community bank. It was founded in 2000 as the Century Bank of Bartow County and it was decided the headquarters site would “be located at 215 East Main Street in Cartersville, demonstrating the banks commitment to Bartow as well as to the vibrancy of the downtown area of Cartersville and its continued importance to our county.” Now, branch locations can be found in Cartersville and Calhoun, Georgia.

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