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Interest Rate Roundup   July 30 - Aug. 5
  Each week, Bankrate takes a look at the state of interest rates on five banking
  products from Bankrate.com's weekly national survey of large banks and thrifts. 
 
Interest Rate Roundup

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 Jan. 14, 2009.

Interest Rate Roundup
Credit cards

Rates: 13.42 percent (standard fixed); 11.02 percent (standard variable)

Fixed rates hovered near 12 percent all last year and so far haven't budged from 12.06 percent. The fixed APR on standard cards didn't move from 13.42 percent in 2008 and has shown no movement so far in 2009.

Variable rates fell 2 basis points this week to 10.84 percent and overall have sunk by 2.42 percentage points since last January. On standard cards, the rate dropped 4 basis points to 11.02 percent, 2.87 percentage points lower than 13.89 percent at the start of 2008. A basis point is one-hundredth of a percentage point.

Consumer credit fell this month. On revolving accounts, the debt owed in November dropped $2.8 billion, or 3.4 percent annualized, to $973.5 billion, according to Federal Reserve data. It's a start, but consumers have piled on nearly $34 billion more in credit card debt since November 2007.

-- Leslie McFadden

 Compare low-interest credit cards.

Bankrate.com's corrections policy
-- Posted: Jan. 15, 2009
 
 
 
 RESOURCES
Experts predict where rates are headed
Fed Outlook blog
Graph rates for the past three months
 TOP SAVINGS STORIES
Winners and losers: Certificates of deposit
Winner or loser: Mortgage shopper
Winner or loser: Home equity loans
 



TABLE OF CONTENTS
 
 
 
 
Checking and Savings
Compare today's rates
NATIONAL OVERNIGHT AVERAGES
Interest checking 0.42%
MMA 0.37%
$10K MMA 0.33%
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