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October 23, 2014

Consumer Rates

Market

Informa Research Services, Inc.
Daily Rate Comparison

Informa Research Services, Inc.
Deposit Products Credit Unions Bank Average Difference
12 Month CD $10,000 0.47% 0.28% 0.19%
Personal Savings $1,000 0.21% 0.10% 0.11%
Personal Interest Checking $2,500 0.37% 0.15% 0.22%
NSF Fee $27.91 $32.04 $-4.13
Personal MMDA $2,500 0.17% 0.10% 0.07%
Business MMDA $2,500 0.17% 0.09% 0.08%

Consumer Loan Products Credit Unions Bank Average Difference
Unsecured Personal Loan - $5,000 - 4 Years 10.18% 10.28% -0.10%
New Auto Loan - 5 Years 2.61% 3.81% -1.20%
Used Auto Loan - 2 year Old - 4 Years 2.77% 4.00% -1.23%
HELOC - 80% LTV - $50,000 4.13% 4.41% -0.28%
HE Loan - 80% LTV - $50,000 - 15 Years 5.66% 5.93% -0.27%

Mortgage Loan Products Credit Unions Bank Average Difference
30 Year Fixed Conforming 3.97% 3.99% -0.02%
30 Year Fixed Jumbo 4.07% 3.97% 0.10%
5/1 Year ARM Conforming 2.91% 2.84% 0.07%

Credit Card Products Credit Unions Bank Average Difference
Platinum 8.89% 10.48% -1.59%
Annual Fee $25.00 $31.00 $-6.00
Maximum Late Fee $25.54 $33.45 $-7.91
Reward 10.03% 13.68% -3.65%
Annual Fee $26.71 $99.76 $-73.05
Maximum Late Fee $22.61 $33.62 $-11.01

Indirect Auto Loan Products Credit Unions Bank Average Difference
Indirect A Tier New Auto Loan - 5 Years 3.59% 3.73% -0.14%
Indirect B Tier New Auto Loan - 5 Years 5.32% 5.27% 0.06%
Indirect C Tier New Auto Loan - 5 Years 7.47% 6.74% 0.73%

Averages displayed are straight averages of all institutions within the Informa Research Services database for the selected region as of Wednesday, October 22, 2014. For detailed disclosures click here.

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Business Rates

Market
Daily Financial Rates -- 2014-10-23

Financial Rates


Thursday, October 23, 2014

03:55 AM CDT

TREASURY YIELD CURVE
(based on the $1 million market)

TermThu
10/23
Wed
10/22
Tue
10/21
Mon
10/20
Fri
10/17
1 month0.040.040.030.030.04
3 month0.020.020.020.020.03
6 month0.060.060.060.050.05
1 year0.110.100.100.110.10
2 year0.410.380.370.390.35
3 year0.800.770.760.790.75
5 year1.461.441.411.441.39
7 year1.901.881.851.881.82
10 year2.252.232.202.222.17
20 year2.732.722.682.702.66
30 year3.010.002.962.982.94

TREASURY BILLS

Results of the October 20, 2014 auction of short-term U.S. government bills, sold at a discount from face value in units of $10,000 to $ 1 million

TermLatest
Mon, 10/20
Week Ago
Tue, 10/14
13 weeks0.0200.010
26 weeks0.0500.040

PRIME RATE

3.25% Last changed December 16, 2008

FEDERAL FUNDS

TermThu
10/23
Wed
10/22
Tue
10/21
Mon
10/20
Fri
10/17
high0.3120.3120.3120.3120.312
low0.0400.0700.0700.0500.060
near closing bid0.0500.0700.0800.0700.070
offered0.0700.2700.1000.1000.080
effective rate20.1000.1000.1100.1000.100

FREDDIE MAC (Mortgage commitments, 30 days)

TermThu
10/23
Wed
10/22
Tue
10/21
Mon
10/20
Fri
10/17
30 year0.000.000.000.000.00

FANNIE MAE (Mortgage commitments, 30 days)

TermThu
10/23
Wed
10/22
Tue
10/21
Mon
10/20
Fri
10/17
30 year3.4663.4733.4833.4833.449

LIBOR

TermThu
10/23
Wed
10/22
Tue
10/21
Mon
10/20
Fri
10/17
1 month0.229000.229000.228000.228000.22600
3 month0.377000.378000.378000.378000.37800
6 month0.539000.539000.538000.538000.53800
1 year0.839000.840000.839000.839000.83900

COMMERCIAL PAPER (Financial, 90 days)

TermWeek ended
10/21
Week ended
10/15
90 days0.230.23

NA: Data not available at time of page generation (shown at top of page)

Sources:
Wall Street Journal
U.S. Dept. of the Treasury


All rates are from the previous business day unless otherwise noted. ReadMore

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Rates boost refis, do little for purchase apps: MBA

Market
WASHINGTON (10/23/14)--Low-interest rates have stirred up mortgage application activity, but only refinances have benefited so far, posting a 23.3% surge for the week ending Oct. 17, while purchase activity dropped by nearly 5%, according to the Mortgage Bankers Association's (MBA) weekly mortgage applications survey ( Economy.com Oct. 22).

The jump in refinance applications for the week pushed the overall composite index for the survey up by 11.6%.

"Any time the rates fall in this range, people often find they are in the money, meaning they can save quite a bit by refinancing," Bob Walters, chief economist for Quicken Loans, told the Washington Post (Oct. 17).

Purchase applications have climbed 1.7% over the last month, but remain 3.6% below levels seen at this time last year. The overall purchase index is stuck at 167.7, which is only just above its cyclical low, according to Moody's.

As for interest rates, the contract rate for 30-year fixed-rate mortgages dropped by 10 basis points for the week to 4.1%. Several other agencies that track and report rates have said mortgage rates have even fallen below 4%.

MBA's 30-year mortgage rate sits 29 basis points lower than where it was four weeks ago and 29 lower year-over-year.

Jumbo mortgage rates dropped by 11 basis points to 4.03%, according to the MBA, and the five-year adjustable-rate mortgage rate fell to 2.94%. ReadMore

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News of the Competition (10/23/14)

Market
  • NEW YORK (10/23/14)-- Residential and commercial mortgage loan servicer Ocwen Financial is being probed by New York state regulators for allegedly backdating thousands of time-sensitive letters to clients in order to deny adjustments to loans ( CNBC.com Oct. 21). Reports also say that even after the company was notified of the practice, it did nothing to rectify the issue. The majority of cases involved borrowers receiving letters for denied mortgage loan adjustments that were dated more than 30 days prior to arriving, according to Benjamin Lawsky, superintendent of New York's department of financial services. Because borrowers are only afforded 30 days to appeal a denial, by the time the letter arrived, the appeal period had ended. Lawsky has demanded that Ocwen fix its record-keeping issues and respond to all requests for adjustments "promptly and accurately." If the department believes the mortgage loan servicing company hasn't taken proper steps to address the situation, Lawsky said, action to protect borrowers will be taken ...
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