Bankrate's site displays two sets of rates that are
produced from two surveys we conduct: one daily and the other weekly.
They're both useful, but they're samples of different groups and
they serve different purposes.
You will see daily rate averages on the site in
boxes labeled "overnight averages" (these calculations
are run after the close of the business day).
Included there are rates we have collected on the
previous day for a specific banking product. Overnight averages
tend to be volatile. They help consumers see the movement of rates
day to day. The institutions included in the "overnight averages"
tables will be different from one day to the next, depending on
which institutions' rates we gather on a particular day for presentation
on the site.
The "National Index," or "national
survey of large lenders," is conducted weekly. The results
of this survey are quoted in our weekly articles, the Interest
Rate Roundup and our Mortgage
Analysis. To conduct the National Index survey, Bankrate obtains
rate information from the 10 largest banks and thrifts in 10 large
U.S. markets. We've conducted this survey in the same manner for
almost 20 years, and because it's consistently done the way it is,
it gives an accurate national apples-to-apples comparison.
Credit Card Index
The credit card index is based on a weekly survey of the 50 largest card issuers, ranked by total receivables, an industry standard measure. This survey is not a paid advertisement. The credit card index is strictly an editorial product that is compiled by Bankrate.com.