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 Nov. 26, 2008.
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Auto loans
Rates: 7.09 percent (60-month, new car); 7.78 percent (36-month, used car)
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Auto loan interest rates, as reflected in the weekly Bankrate survey, continued to decline this week. Both the 60-month and 36-month new-car loan rates dropped 4 basis points, coming in at 7.09 percent and 7.01 percent, respectively. The 48-month new-car loan rate fell 3 basis points to 7.07 percent.
In used cars, both the 36-month and 48-month used-car loan rates shed 2 basis points and are now 7.78 percent and 7.84 percent, respectively, for the longer term.
Getting rid of the hulking SUV in your garage may not be such a good idea right now. This Bankrate feature gives you "7 reasons not to trade your gas guzzler."
-- Sheyna Steiner
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July 30 - Aug. 5
