Here are the average rates of 5 popular consumer banking products based on a survey of large banks*:
Mortgage InterestRates: 6.29 percent (30-year fixed) Average points: 0.24 Mortgage rates have been steady the past four weeks. The average 30-year fixed rate is 6.29 percent. The average 15-year fixed, is at 6 percent. The average jumbo 30-year fixed ws at 6.54 percent. Adjustable-rate mortgages: The 5/1 ARM is 6.16 percent, the one-year ARM is at 6.05 percent. Borrowers may opt to lower their interest rate by paying more points up front. Let me know if you need examples.
Home Equity Rates: 8.16 percent (line of credit); 7.94 percent (loan) The average home equity line of credit is 8.16 percent, the average fixed-rate home equity loans is 7.94 percent.
Auto Loan Rates: 7.7 percent (60-month, new car); 8.46 percent (36-month, used car) The 60-month new car loan is 7.7 percent, the 48-month loan is 7.65 percent. The 36-month is 7.57 percent.
Certificate of Deposit Yields: 3.77 percent (1-year CD yield); 3.96 percent (5-year CD yield) Regular one-year and five-year CDs are yielding 3.77 percent and 3.96 percent. Jumbo one-year and five-year CDs are yielding 4.21 percent and 4.19 percent, respectively.
Credit Card Rates: 13.44 (standard fixed); 14.56 percent (standard variable) The fixed rate is 13.44 percent, and variable rate is 14.56 percent. For all cards - standard, gold and platinum -fixed rate is 11.82 percent, and variable rate is 13.89 percent.