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 April 23, 2008.
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Auto loans
Rates: 7.03 percent (60-month, new car); 7.84 percent (36-month, used)
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Additional movement to the downside this week as auto loan interest rates continue last week's decline, perhaps due at least in part to slumping sales and building inventories.
The five-year, new-car loan rate shed 3 basis points to come in at 7.03 percent. The average four-year, new car loan will cost you 6.98 percent, down 3 basis points from last week, and the three-year variety stands at 6.92 percent, down 2 basis points.
If you're in the market for a used car, a 36-month loan is averaging 7.84 percent, down 7 basis points.
TransUnion's analysis of auto loans in the last quarter of 2007 shows that the average borrower owes $12,738. The credit bureau predicts that the continuing economic slump will contribute to a rise in delinquency rates throughout 2008.
-- Sheyna Steiner
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July 30 - Aug. 5
