CD Interest Rates and Mortgage Rates: How Low Can You Go?
The recent weak data has driven 10 year U.S. bond yields down near 2.50 percent. Late last month 10 year bond yields were near 3.00 percent and in early June yields were around 3.50 percent. Mortgage rates and CD rates continue to hit new lows weekly following bond yields lower. National average CD rates have been slowly going down for the past several months which is bad news for depositors. On May 6th, 12 month CD rates were averaging 1.48 percent. Current 12 month CD rates are almost half that rate averaging 0.86 percent.
You can view weekly national average CD rates at weekly CD rates and today's CD rates below.
National average mortgage mortgage rates have also been going lower for the past several months which is good news for home buyers and those looking to refinance a mortgage. On January 4th, 30 year conforming fixed mortgage rates were averaging 5.81 percent. Current 30 year mortgage rates are averaging 4.49 percent, another record low. View weekly national average mortgage rates at weekly mortgage rates and today's mortgage rates below.
Average 30 year conforming mortgage rates are even lower in some states. Right now 30 year conforming mortgage rates in Illinois are averaging 4.47 percent. 30 year conforming mortgage rates in Florida are even lower averaging 4.44 percent. Calculate monthly mortgage payments by using our free mortgage calculator. You can display national average CD rates, national average mortgage rates or state specific average mortgage rates by using our free widgets. |
CD rates and mortgage rates continue to head lower as poor economic data is released weekly. The latest weak economic data included an unexpected rise in first time claims for U.S. unemployment benefits which are now at a nine month high of 500,000 and a drop in manufacturing activity in the Philadelphia region.
