Interest Rate Roundup

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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

By Bankrate.com

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.

Interest Rate Roundup

Home equity products

Rates: 5.25 percent (line of credit); 8.19 percent (loan)

Rates on home equity products shot up significantly this week.

The average home equity line of credit jumped 15 basis points, to 5.25 percent. A basis point is one-hundredth of a percentage point.

Most home equity lines of credit are indexed to the prime rate, a common benchmark for consumer and business loans set by banks. The prime rate moves in lock step with the federal funds rate.

A series of Federal Reserve cuts in the federal funds rate have sent HELOC rates steadily lower, despite this week's increase. HELOC borrowing costs will fall further if the Fed cuts rates again as expected at the next meeting of the open market committee, scheduled for Dec. 15 and Dec. 16.

Meanwhile, home equity loan rates increased by 10 basis points, to 8.19 percent. Loan rates are now at their highest levels since May 2004.

-- Chris Kissell

Compare home equity loans in your area.

Bankrate.com's corrections policy

-- Posted: Nov. 27, 2008

		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

Mortgage Rate Trend Index

Mortgage analysis

Interest Rate Roundup

CD Rate Trend Index

Checking and Savings

Compare today's rates

NATIONAL OVERNIGHT AVERAGES

Interest checking	0.58%
MMA	1.03%
$10K MMA	1.11%

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* Mortgage rate may include points. See rate tables for details. Click here.
* To see the definition of overnight averages click here.

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