Ally Bank CD Rates, Savings & MMA, Mortgage & Loan Rates, Reviews

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Today's 12-month CD rates can be found at 0.85%, 6-month CD rates at 0.10% and 3-month CD rates at 2.63%. Current savings rates are at 0.25% and money market rates are at 0.05%. Mortgage rates today on 30-year fixed loans are around 6.97%. Credit Card rates are at 8.99%. Personal Loan rates are at 5.99%. All these rates, and more, can be found in our database of rates. Ally Bank's 12-Month CD rates are at 4.50%, 18-Month CD rates are at 4.45%, 9-Month CD rates are at 4.45%, 6-Month CD rates are at 4.40%, 36-Month CD rates are at 4.00%. Ally Bank's savings rates are at 4.25%. Ally Bank's money market rates are at 4.25%.

Ally Bank

To see how these rates compare to Ally Bank CD rates, feel free to use our comprehensive rate tables for side-by-side comparisons of CD rates from Ally Bank, savings rates and money market rates, with rates from other banks and credit unions below. You can use our bank rate lists to compare CD rates for all CD terms, with Ally Bank CD rates. You can also compare Ally Bank savings rates, MMA rates and mortgage rates using our other rate lists.

Ally Bank money market rates, and other rates, are continually updated to reflect market conditions, we recommend checking back frequently to get the best money market rates and other rates available. Have you opened an account or have any experiences at Ally Bank? Share your experience about Ally Bank by leaving a review below, or read customer reviews before you decide to use Ally Bank.

Ally Bank Texas Ratio

Ally Bank's Texas Ratio is at 10.84%, which is considered excellent. The Texas Ratio for Ally Bank is higher than the national average of all banks, currently at 6.24%. The Texas Ratio was developed in the early 1980s, and it is used to identify potential problem banks. Banks that have a Texas Ratio of 100% or more have a high chance of failing.

Overall, Ally Bank is an excellent bank worth considering, with an overall rating of 5 stars out of 5 stars.

Rate
APY/APR
vs Avg
12-Month CD
4.50%
18-Month CD
4.45%
24-Month CD
N/A
36-Month CD
4.00%
48-Month CD
N/A
60-Month CD
3.90%
Savings
4.25%
MMA
4.25%
30-Year Fixed
N/A
Credit Card
N/A
Personal Loan
N/A
Ally Bank
200 W Civic Center Dr
Sandy, UT 84070
Member FDIC
MonitorBankRates' Rating
5/5
★★★★★

Ally Bank CD Rates and Interest Rates

Bank
Product
APY
Min Dep
Ally Bank
Ally Bank
12-Month CD
4.50%
$0
Ally Bank
Ally Bank
9-Month CD
4.45%
$0
Ally Bank
Ally Bank
18-Month CD
4.45%
$0
Ally Bank
Ally Bank
6-Month CD
4.40%
$0
Ally Bank
Ally Bank
Savings Account
4.25%
$0
Ally Bank
Ally Bank
Money Market
4.25%
$0
Ally Bank
Ally Bank
36-Month CD
4.00%
$0
Ally Bank
Ally Bank
60-Month CD
3.90%
$0
Ally Bank
Ally Bank
3-Month CD
3.00%
$0
Show More

The Annual Percentage Yields (APYs) displayed are based on the highest APY offered for the specified deposit amount or less. Rates may change without prior notice. The "Min. Balance" indicates the minimum amount required to earn the stated APY. Please note that some of the offers presented on this site are from advertisers, who provide compensation for their inclusion. However, these advertised offers do not encompass all available deposit accounts.

Compare Ally Bank Rates with Other Competitive Bank and Credit Union Rates

Bank
Product
APY
Min Dep
Newtek Bank
Newtek Bank
Personal High Yield Savings
5.25%
$0
LimeLight Bank
LimeLight Bank
12-Month CD
5.20%
$100
Compass Savings Bank
Compass Savings Bank
12-Month CD
5.12%
$500
Bask Bank
Bask Bank
Savings Account
5.10%
$0
First National B&T Co. of Bottineau
First National B&T Co. of Bottineau
12-Month CD
4.96%
$500
SpiritBank
SpiritBank
9-Month CD special
4.75%
$2,500
Community Bank of Raymore
Community Bank of Raymore
12-Month IntraFi
4.67%
$10,000
EagleBank
EagleBank
3-Month CD IntraFi CDARS
4.40%
$10,000
First United Bank Dimmitt, TX
First United Bank Dimmitt, TX
12-Month CD
4.37%
$1,000
Department of Commerce Federal Credit Union
Department of Commerce Federal Credit Union
60-Month CD (Certificate)
4.34%
$25,000
Sandy Spring Bank
Sandy Spring Bank
18-Month CD
4.00%
$1,000
First Southwest Bank
First Southwest Bank
24-Month CD
3.75%
$1,000
Legacy Bank Colwich, KS
Legacy Bank Colwich, KS
48-Month CD
3.40%
$1,000
Texas Heritage National Bank
Texas Heritage National Bank
24-Month CD
3.35%
$1,000
Bar Harbor SLA
Bar Harbor SLA
12-Month CD
3.31%
$1,000
EvaBank
EvaBank
36-Month CD
3.30%
$1,000
Farmers State Bank Elmwood, IL
Farmers State Bank Elmwood, IL
20-Month CD
3.03%
$10,000
Lake Central Bank
Lake Central Bank
3-Month CD
3.00%
$1,000
The Bank of Princeton
The Bank of Princeton
3-Month CD
3.00%
$500
Union State Bank Olsburg, KS
Union State Bank Olsburg, KS
36-Month CD
3.00%
$1,000
Platte Valley Bank North Bend, NE
Platte Valley Bank North Bend, NE
12-Month CD
2.85%
$500
Bank of Edmonson County
Bank of Edmonson County
48-Month CD Monthly
2.53%
$500
Mutual Savings Association
Mutual Savings Association
48-Month CD
2.50%
$2,000
Primary Bank
Primary Bank
48-Month CD
2.27%
$1,000
Parkway Bank and Trust Company
Parkway Bank and Trust Company
Checking Account Kasasa Cash <-$25K
2.21%
$0
First State Bank Tahlequah, OK
First State Bank Tahlequah, OK
60-Month CD
2.17%
$1,000
Frontier State Bank
Frontier State Bank
60-Month CD
2.07%
$1,000
River Falls State Bank
River Falls State Bank
12-Month CD
2.02%
$500
Grove Bank
Grove Bank
72-Month CD
2.01%
$1,000
National Exchange Bank and Trust
National Exchange Bank and Trust
18-Month CD
2.00%
$1,000
Education Credit Union
Education Credit Union
Super Money Market
1.65%
$2,500
F&M Bank Laotto, IN
F&M Bank Laotto, IN
24-Month CD
1.26%
$500
Hocking Valley Bank
Hocking Valley Bank
12-Month CD
1.00%
$1,000
Bogota Savings Bank
Bogota Savings Bank
36-Month CD
0.75%
$1,000
Farmers State Bank Center, TX
Farmers State Bank Center, TX
Money Market Plus Account
0.55%
$25,000
Consumers National Bank
Consumers National Bank
Consumer Premium Money Market MMDA
0.50%
$75,000
Pillar Bank
Pillar Bank
60-Month CD
0.45%
$500
Citizens National Bank Cameron, TX
Citizens National Bank Cameron, TX
Savings Account
0.40%
$0
Altoona First Savings Bank
Altoona First Savings Bank
30-Month CD
0.40%
$1,000
HomePride Bank
HomePride Bank
Checking Account Now
0.25%
$2,500
First Southern Bank
First Southern Bank
Business Premier Money Market
0.25%
$2,500
Newtown Savings Bank
Newtown Savings Bank
3-Month CD
0.20%
$500
Cambridge Trust Company
Cambridge Trust Company
60-Month CD
0.20%
$1,000
North Shore Bank of Commerce
North Shore Bank of Commerce
Regular Savings Account
0.15%
$0
Bangor Savings Bank
Bangor Savings Bank
Market Rate Savings
0.15%
$5,000
The Union Bank Company
The Union Bank Company
18-Month CD Board CDs
0.10%
$500
Wrentham Co-operative Bank
Wrentham Co-operative Bank
Regular Savings
0.05%
$10
Savings Bank of Danbury
Savings Bank of Danbury
Passbook Savings
0.03%
$10
Union Bank Morrisville, VT
Union Bank Morrisville, VT
Statement Savings
0.02%
$25
Reading Co-op Bank
Reading Co-op Bank
Savings Account
0.01%
$10
Show More

The Annual Percentage Yields (APYs) displayed are based on the highest APY offered for the specified deposit amount or less. Rates may change without prior notice. The "Min. Balance" indicates the minimum amount required to earn the stated APY. Please note that some of the offers presented on this site are from advertisers, who provide compensation for their inclusion. However, these advertised offers do not encompass all available deposit accounts.

Mortgage Rates April 14, 2024

Lender
Product
Rate
APR
Points
4.500%
4.666%
0.000
4.650%
4.766%
0.000
4.990%
5.287%
0.500
5.000%
5.363%
2.000
5.500%
5.570%
0.000
5.500%
5.614%
0.000
10-Year Power Rate Fixed
5.954%
5.625%
0.000
15-Year Fixed
5.625%
5.681%
0.000
5.500%
5.716%
0.500
15-Year Power Rate Fixed
5.974%
5.750%
0.000
5.625%
5.777%
0.500
5.750%
5.834%
0.000
People\'s Alliance Federal Credit Union
People\'s Alliance Federal Credit Union
10 Year Fixed
0.000%
5.875%
1.000
15-Year Fixed
5.625%
5.877%
0.975
5.750%
5.883%
0.500
6.000%
5.892%
0.000
10-Year Fixed (LTV 90% or less)
5.675%
5.894%
0.000
5.625%
5.909%
1.000
5.875%
5.913%
0.000
15 Year Fixed
5.625%
5.923%
1.000
15-Year Fixed
5.875%
5.925%
0.000
5.750%
5.946%
0.250
5.875%
5.958%
0.000
Show More

The mortgage rates presented are solely intended for informational use. Please consult the mentioned lenders for up-to-date mortgage rates. The actual mortgage rates and other loan conditions depend on the lender's approval and are not guaranteed.

Ally Bank Information

Ally Bank
200 W Civic Center Dr
Sandy, UT 84070
Salt Lake
Established Date: 08/02/2004
FDIC Certificate #: 57803
Date of FDIC Deposit Insurance: 08/02/2004
Bank Holding Company: ALLY FINANCIAL INC
How Many Domestic U.S. Offices? 1
How Many Branches are There? 1
Is Ally Bank FDIC Insured? Yes
What is Ally Bank's Cert number? 57803
What is the maximum amount for insured deposits? $250,000 per holder, per account

Ally Bank Financials

Total Assets:
$186,383,000,000
Total Deposits:
$158,488,000,000
Equity Capital:
$13,836,000,000
Domestic Deposits:
$158,488,000,000
Net Income:
$495,000,000
Return on Assets:
1.8937%
Quarterly Return on Assets:
1.0800%
Pretax Return on Assets:
1.3316%
Pretax Quarterly Return on Assets:
1.3300%
Return on Equity:
22.0500%
Quarterly Return on Equity:
14.6500%
Common Equity Tier 1 Capital Ratio:
11.7469%
Tier 1 Risk-Based Capital Ratio:
11.7469%
Leverage Tier 1 (Core Capital) Ratio:
9.6175%
Total Risk-Based Capital Ratio (YTD):
13.0029%
Total Interest Income (YTD):
5.5245%
 
 
Headquarters:
Sandy
FDIC Field Office:
Salt Lake City
Regulator:
FED
County:
Salt Lake
# of Offices:
1
Metropolitan Statistical Area (MSA):
Salt Lake City, UT
Consolidated Metropolitan Statistical Area (CMSA):
OTS Region:
West
FDIC Region:
San Francisco
Source: FDIC

Ally Bank CD Rates: 5.15% APY for 18-Month CD Account

Ally Bank CD rates on the bank's shorter-term certificates of deposit are competitive against other online CD rates. The best CD rate at Ally Bank is on the 18-month certificate of deposit which has a current rate of 5.15% APY. The 18-month CD rate from Ally, puts the bank in the best 20 rates available on our 18-month CD rate list. Other Ally Bank CD Rates worth mentioning are on the 9-month CD and 12-month CD, both accounts have a current CD rate of 5.00% APY. You can view a complete list of Ally Bank Regular CD rates here.

Ally Bank CD Rates

18-Month CD

    Read more...

Ally Bank CD Rates: 18-Month CD Rate at 5.00% APY

Ally Bank offers several different types of certificates of deposit, all with really competitive interest rates. The best CD rate right now at Ally Bank is on their 18-month CD at 5.00% APY. Ally Bank's 5.00% rate puts in in the select few banks offering a 5.00 percent rate on a CD account. Other short-term CDs from Ally Bank, include a 9-month CD with a current rate of 3.50 percent and a 12-month CD with a rate of 4.25% APY. You can see a complete list of Ally Bank CD rates below.

Ally Bank, an online-only bank, offers higher CD rates than traditional brick and mortar banks. CDs are available in a variety of terms and some CD accounts have unique features, like the ability to have the interest rate increased after opening the account.

Ally Bank's CDs come with a variety of features that make them attractive to investors. One of the most important features is the ability to open a CD with no minimum deposit. This means that investors can start earning interest on their money with as little as $0.01. This feature makes CDs accessible to investors of all income levels.

    Read more...

CD Rates for December 24th, 2019

CD Rates for December 24th, 2019Average CD rates for December 24th, 2019 are mostly lower compared to last week's average rates. All average CD rates declined, except for average 3-month CD rates, which were unchanged. The best CD rates available on our rate lists are also lower, except for 6-month CD rates which moved higher. We don't expect any big moves either way for CD rates in the coming months, unless the Federal Reserve increases or lowers the fed funds rate which is unlikely.What's more likely to happen in 2020 is for CD rates to continue their slow decline. Slowly declining CD rates are unfortunate because CD rates never got above their pre-Financial Crisis level of more than a decade ago. If there is a recession in 2020, we might see the highest 12-month CD rates available fall towards 1.00 percent.BMO Harris Bank CD rates on 6-month certificates of deposit are the best deal available on our rate list. Current 6-month CD rates at BMO Harris Bank are at 1.89 percent with an APY of 1.90 percent. That rate is higher than many 12-month CD rates available today. Overall, Ally Bank is one bank that stands out with competitive CD rates on all CD terms. You can compare online CD rates with Ally Bank CD rates to get the best deal on a certificate of deposit.     Read more...

Ally Bank CD Rates: Comparing Options

Ally Bank CD Rates Comparing OptionsAlly Bank offers three different certificates of deposit with some of the best CD rates available online. The current CD products include Ally Bank's High Yield CD, No Penalty CD, and Raise Your Rate CD. The rates and yield you earn on Ally's CDs vary but mostly depend on the term of the CD. The shortest-term CD, 3 months, currently has a yield of 0.75 percent while the longest-term CD, 60-months, has a yield of 2.15 percent.One nice feature about CD at Ally Bank is they offer their "Ten Day Best Rate Guarantee." The rate guarantee basically allows you to get a better rate within 10 days of opening your account if rates move higher. Another nice feature about the CD accounts is interested is compounded daily, giving you an overall higher APY. There is no minimum opening deposit for an Ally Bank CD account, but you can earn a higher rate and yield with a higher deposit amount.

High Yield CD Rates

    Read more...

Ally Bank Savings Rate Hits New High for 2019

Ally Bank Savings Rate Hits New High for 2019Ally Bank savings rates, which were already were competitive for online banks, recently increased their rate. Current savings rates at Ally Bank are at 2.18 percent with an APY of 2.20 percent, up from 1.98 percent with an APY of 2.00 percent. With this increase, savings rates at Ally Bank are at a new high for 2019. This increase also puts Ally Bank's savings rate in the top 10 rates on our list.There is no minimum opening deposit for a savings account at Ally Bank but you have to fund your account within 30 days of opening it or the account will be closed.

Ally Bank Savings Account Benefits

    Read more...

Ally Bank CD Rates Increased

Ally Bank CD Rates IncreasedAlly Bank CD rates which were already some of the best CD rates around were increased. 3 year CD rates and 4 year CD rates at Ally Bank had the biggest increase of 25 basis points. 3 year CD rates from Ally Bank were increased to 2.75 percent and 4 year CD rates from Ally Bank were increased to 2.60 percent. You can see the rest of Ally Bank CD rates increases using the rate list below.     Read more...

Ally Bank CD Rates - Bank Increases Most CD Rates, Lowers 1 Year CD

Ally Bank CD rates were recently changed and the changes were mostly higher. The Bank lowered 1 year CD rates but increased rates on 3 other CD products yesterday. Ally lowered 1 year CD rates from 2.00 percent to 1.70 percent, or 30 basis points. Percentagewise, the decrease was 15 percent, which is a rather large decrease.

Ally Bank 1 year CD rates were the top 1 year rate available since December 2o, when the rate was increased. Back in December, the rate was increased from 1.65 percent to 2.00 percent. While the new rate is the best rate available it still places Ally in the top 10 highest rates.

Ally Bank 1 year CD rates was the only rate decrease while 18 month, 2 year and 3 year CD rates were increased. Listed below are all four rate changes.

    Read more...

Brand New High for 12 Month CD Rates in 2017

12 Month CD ratesWe just reached a new milestone for 12 Month CD rates in 2017 as rates continue to inch higher. Crestmark Bank is now offering 12 Month CD rates at 1.80 percent. Just about two months ago, we reported a new high for 1 year CD rates at 1.70 percent. That new high was also from CrestMark Bank. You can read about that post Crestmark Bank Best Rate 1.70%.The uptrend for CD rates will continue for the rest of this year and into at least 2018 and it may last even longer if the economy doesn't fall into a recession. The Federal Open Market Committee meets this month and will more than likely increase the fed funds rate by 25 basis points.Another fed funds rate increase will put additional upward pressure on short term interest rates. 1 year CD rates could therefore hit 1.90 percent this month and 2.00 percent sometime early in 2018. Back in early October, we forecast 1 year CD rates hitting 2.00 percent as a result of another fed funds rate increase.     Read more...

Ally Bank Mortgage Rates

Ally Bank which is probably best known for their competitive CD rates has also become a mortgage lender. Ally Bank mortgage rates are competitive right now and Ally also offers a price match guarantee. Current Ally Bank mortgages are available for both home purchases and refinances and the rates are competitive for both type of products. Current mortgage rates on Ally Bank's 30 year mortgage for a home purchase or a refinance are at 3.875 percent.Ally Bank Mortgage RatesAlly Bank's website has a wealth of information on the process of applying for a home loan, such as the benefits of refinancing, calculators, and other information. The price match guarantee has some minor details. If you find a better mortgage rate, you have to send Ally the other lender's loan estimate. Ally will match the other lender's mortgage rate and points as long as it's for the same loan term. You also have to make sure the loan estimate is dated within the past 5 business days.

Current Ally Bank Mortgage Rates

    Read more...

Top Savings Rates Update - January 11, 2017

Listed below are the top savings account rates available on our database for January 11, 2017. The sole leader with the best savings account rate this week is Popular Direct with a rate of 1.14 percent and a yield of 1.15 percent.

Top Savings Rates

  • Popular Direct 1.14% Yield 1.15%
  •     Read more...

    Highest Deposit Rates November 27, 2016

    Variable deposit rates continue to inch slowly higher this week. The best savings rate available is at 1.25 percent with a yield of 1.26 percent. The best money market account rate available is slightly lower at 1.24 percent with a yield of 1.25 percent.Listed below are the best savings rates and money market rates available in our database for November 27, 2016.

    Best Savings Rates

        Read more...

    Best Variable Deposit Rates October 12, 2016

    Variable deposit rates have been slowly creeping up for the past several months. The interest rate increases have been small; in increments of less than 10 basis points for the most part. Even with the small increases, the best variable deposit rates are almost comparable to best the 1 year CD rates.The best savings rate on our rate database is at 1.25 percent with an APY of 1.26 percent from Popular Direct. This savings rate is only 4 basis points lower than the top 1 year CD rate in our database at 1.29 percent with a yield of 1.30 percent. The highest money market yield on our list is 5 basis point lower at 1.24 percent with a yield of 1.25 percent.Listed below are today's current highest savings rates and money market rates     Read more...

    Deposit Rate Report August 11, 2016

    Listed below are the best savings rates and money market account rates for August 11, 2016.

    Best Savings Rates August 11, 2016

    Savings Rate and Money Market Rate Report August 2, 2016

    Savings rates and money market rates remain stable in our Deposit Rate Report for August 2, 2016. There have been some rate changes since our last deposit rate report but no new highs to report. As expected, the FOMC didn't increase the fed funds rate during their meeting last week.The next FOMC meeting is scheduled for September 20-21 but it's unlikely the FOMC will increase the rate during that meeting. Listed below are the current best savings rates and money market rates available in our database of rates.

    Best Savings Account Rates August 2, 2016

        Read more...

    Ally Bank 18 Month CD Rates now at 1.29%

    Ally Bank 18 Month CD rates are now at 1.29 percent with a yield of 1.30 percent. View the current 18 Month CD rates at Ally Bank below.     Read more...

    Variable Deposit Rate Report for July 11, 2016

    Listed below are current savings rates and money market rates in our Variable Deposit Rate Report for July 11, 2016. Also listed below are average savings/MMA rates for 7/11/16. You can see how these rates compare with all deposit rates by searching our rate database: Variable Deposit Rates.

    Top Savings Account Rates July 11, 2016

    Sorry Savers, Brexit Kills Any More Rate Hikes in 2016

    Hopes were high for savers late last year when the Fed increased the fed funds rate for the first time in nearly a decade. The rate hike of 25 basis points in December 2015 was expected to be the first of many hikes to come. In the Fed's economic predictions for 2016, a majority of Fed participants expected four rate hikes in 2016.Savers finally had reason to be hopeful that deposit rates would move higher in 2016, then came reality. The second rate hike looked like it would happen during the Fed's March meeting. During the Fed's March meeting, slowing economies worldwide spooked the markets and the Fed declined to raise the fed funds rate.The Fed also decided not to hike rates during April meeting due to economic uncertainty. June's meeting started to look like another rate hike would come but a disappointing jobs report nixed that increase. A mere 38,000 jobs were created in May, much lower than the forecast of 175,000.     Read more...

    Will Deposit Rates Move Higher When the Fed Meets in June?

    The Federal Open Market Committee is scheduled to meet next month to decide the direction of monetary policy. All eyes will be on the Fed to see if they announce a federal funds rate hike. While a rate hike is more likely to happen next month than it was a few weeks ago, it still might not happen.The CME Group's FedWatch Tool currently has a 64.4 percent chance that the rate will remain at 0.50 percent. There is only a 35.6 percent chance that the rate will be increased 25 basis points to 0.75 percent. The 35.6 percent chance of an increase is actually up from 30 percent a day ago.Even if the Fed does raise the rate, it's not a foregone conclusion that banks will increase deposit rates. As the Fed increases the fed funds rate, banks will be under pressure to increase deposit rates. Banks that are interested in growing their deposits will feel that pressure.     Read more...

    3/1/16 - Best Variable Deposit Rates

    Listed below are the best variable deposit rates for March 1, 2016. For a list of today's deposit rates search our database of rates at Deposit Rates.

    Best Money Market Account Rates

    Top Deposit Rates for February 24, 2016

    Listed below are the top online savings rates and money market rates for 2/24/16.Top Online Savings Account Rates

    Variable Deposit Rate Report for January 14, 2016

    A few banks have increased their rates, so average deposit rates are slightly higher this week. Variable deposit rates have been stable so far in 2016 but that will change in the coming months. The biggest force behind any deposit rate increases is the Federal Open Market Committee (FOMC). The FOMC meets again in less than 2 weeks to decide on interest rate policy.The Fed is widely expected to keep the fed funds rate in the current range of 0.25 percent to 0.50 percent. As of today, there is a 90.5 percent chance the Fed won't increase the fed funds rate according to the CME Group's Fed Watch Tool. The next Fed meeting is in March and as of today there is only a 34.5 percent probability the Fed will increase the rate during that meeting.Deposit rates will move higher in 2016. The question isn't if, but when. Listed below are this week's best savings rates and money market rates.     Read more...

    Christmas Day 2015 Variable Deposit Rates

    2016 will be a better year for deposit rates after many years of watching rates decline to historic lows. The Fed will most likely increase the fed funds rate at least 3 or 4 times in 2016, on top of the 1 rate increase in 2015. While banks and credit unions haven't increased rates yet, it's only a matter of time before they do.Let's look forward to higher fixed and variable bank rates in 2016. Listed are the best savings rates and money market rates on Christmas Day 2015. You can check on all current deposit rates by searching our database of interest rates at MonitorBankRates.com.Best Savings Rates Christmas Day     Read more...

    CD Rate Changes this Past Week - Top 1 Year CD Rate Lowered 10 BPS

    We now have six banks tied for the top 1 year CD rate. Several banks increased their CD rates recently as we wait for the Fed to increase rates, possibly as soon as next week.California First National Bank was the highest bank rate last week but now CFNB's 1 year rate is tied with 6 other banks for the top rate of 1.24. The highest 1 year rate from a credit union in the rate database is slightly higher at 1.32 percent with an APY of 1.33 percent.Listed below are CD rate changes from this past week.     Read more...

    Unemployment Low and Hourly Wages Up Should Mean a Rate Increase

    The Fed meets in just over a month to decide on monetary policy. The strong November employment report makes it more likely the Fed participants will vote to increase the fed funds rate. A higher fed funds rate will lead to higher variable deposit rates, possibly as soon as next month.

    November's unemployment rate fell to 5.00 percent and average hourly earnings have risen by 2.5 percent over the past year. The unemployment rate is now at the lowest level since April 2008, just before the financial crisis. The rate is also at a point where many Fed officials see as consistent with full employment. 

    Full employment and higher wage growth should force the Fed to vote on increasing rates. The CME Group's Fed Watch Tool puts the probability of a rate hike in December at 65.9 percent. Whether or not the rate is increased will depend on December's employment report.

        Read more...

    CD Rates Hold Steady as Fed Meets Next Week to Decide Monetary Policy

    The Federal Open Market Committee (FOMC) meets again next week to decide on monetary policy. If the FOMC decides to increase the fed funds rate, CD rates will also move higher. Fed Chair, Janet Yellen, is still talking up a rate hike sometime in 2015 but some Fed officials say the first hike will happen in 2016.

    The final FOMC meeting for 2015 will be in December. If a hike doesn't happen next week, the FOMC has one final chance to raise the rate this year. The CME's FedWatch Tool now has a 29.2 percent chance of a hike in December, down from 35.4 percent last month.

    The past several months, banks and credit unions in our rate database have been slowing increasing their rates in anticipation of a Fed rate hike. Both short term and long term CD rates have been increased by financial institutions. The increases have been small but at least rates are finally moving higher after a half dozen years of decreases.

        Read more...

    Explore Other Rate Deals

    Mortgage rates and mortgage refinancing rates are stable this afternoon. Rates have been in a narrow range since the beginning of 2011. Conventional 30 year mortgage rates and 30 year conventional refinance rates currently are averaging 4.81 percent, an increase from yesterday's average rate of 4.80 percent.  30 year mortgage rates and 30 year mortgage refinancing rates in Georgia are lower than the current national average rate. 30 year mortgage rates today and refinance rates today in Georgia are averaging 4.77 percent.
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    Conforming mortgage rates today are higher but still near record lows, fueling demand for refinance applications. Mortgage rates on 30 year home loans are averaging 4.01%, an increase from yesterday's average mortgage rate of 3.92%. Mortgage rates currently on 15 year home mortgage loans are averaging 3.27%, up from yesterday's average 15 year mortgage rate of 3.24%.

    Bank or Credit Union Offers and Deals

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