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 June 25, 2008.
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Auto loans
Rates: 7.08 percent (60-month, new car); 7.73 percent (36-month, used car)
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Rates for used cars fell 4 basis points this week while new-car loan rates went up 2 basis points. Here's how they shook out: The 60-month new-car loan rate is now 7.08 percent; the 48-month new-car loan rate is 7.05 percent and the 36-month new-car loan rate 6.99 percent.
The 48-month used-car loan rate is 7.73 percent and the 36-month used-car loan rate is also 7.73 percent.
May was a turning point for the auto industry,
Mark Trumbull, staff writer for The Christian Science Monitor, reported
Wednesday. Not only did sales of cars definitively outpace that of trucks
and SUVs, but if sales patterns remain the same, Asian carmakers might
outsell the Detroit Big Three this year.
-- Sheyna Steiner
See
auto loan rates in your area. |
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July 30 - Aug. 5
