Here's a look at the state of interest rates on five common consumer banking products and the latest rates from Bankrate.com's weekly national survey of large banks and thrifts conducted May 19, 2004.

Mortgages

Rate: 6.35 percent (30-year fixed)
Mortgage rates retreated slightly this week, after a dizzying eight-week rise. The average 30-year fixed-rate mortgage dipped from 6.37 percent to 6.35 percent. The average 15-year fixed-rate mortgage popular for refinancing inched lower, from 5.75 percent to 5.74 percent. The jumbo 30-year fixed-rate mortgage declined from 6.57 percent to 6.55 percent, while the one-year adjustable-rate mortgage increased from 4.09 percent to 4.12 percent. Over the past two months, good economic news and evidence of job growth has fueled a consistent rise in mortgage rates. This week, mortgage rates were influenced by investor concerns about soaring oil prices, the war in Iraq, slowing growth in China and political uncertainty with a resulting stock market crash in India. Global jitters led to a decline in long-term government bond yields, to which mortgage rates are closely related.

Certificates of deposit

Rate: 1.30 percent (1-year CD yield); 3.37 percent (5-year CD yield)
Yields on certificates of deposit jumped sharply again this week, rising for the seventh consecutive week. The trend over the past two months has yields on maturities of one year and longer increasing steadily each week, with yields on maturities less than one year now beginning to inch higher. The average two-year CD yield climbed above the two percent barrier for the first time since December 2002, hitting 2.04 percent. The average five-year CD yield jumped from 3.28 percent to 3.37 percent, the highest since November 2002. Even the average three-month CD yield is now rousing from a deep hibernation, inching from 0.82 percent to 0.84 percent over the past three weeks.

Auto loans

Home equity products

Rates: 4.71 percent (line of credit); 7.23 percent (loan)

The average home equity loan rate increased four basis points this week, from 7.19 percent to 7.23 percent. This is the highest since the week of March 3, but lower than any week between Aug. 27, 2003 and March 3, 2004. The average home equity line of credit (HELOC) rate dropped one basis point to 4.71 percent. A basis point is one one-hundredth of one percentage point. The prospect of higher rates has yet to push HELOC rates up, though this influence will be seen shortly following any Fed interest rate increase. Fixed-rate home equity loans have increased slightly in the past five weeks, but the lion's share of any movement will also come in response to Fed interest rate action.

Credit cards

Rates: 12.85 percent (standard fixed); 13.51 percent (standard variable)
The average standard variable rate dropped for the second consecutive week, with the average falling another 4 basis points to 13.51 percent as some issuers cut rates. Last week, the decline in the average standard variable rate was a result of issuers no longer offering the card for direct application, not as a result of rate changes. The average platinum variable rate also declined this week, falling 3 basis points to 10.88 percent. The declines seen in variable rate cards this week may be the last hurrah, or one of the last, before the Federal Reserve begins boosting interest rates. If a June rate hike materializes, credit card holders will begin to see higher rates in the third quarter of 2004. No rate changes were seen on fixed rate cards again this week.