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September 2, 2014

Consumer Rates

Market

Informa Research Services, Inc.
Daily Rate Comparison

Informa Research Services, Inc.
Deposit Products Credit Unions Bank Average Difference
12 Month CD $10,000 0.46% 0.28% 0.18%
Personal Savings $1,000 0.21% 0.10% 0.11%
Personal Interest Checking $2,500 0.35% 0.15% 0.20%
NSF Fee $27.89 $32.04 $-4.15
Personal MMDA $2,500 0.17% 0.10% 0.07%
Business MMDA $2,500 0.17% 0.09% 0.08%

Consumer Loan Products Credit Unions Bank Average Difference
Unsecured Personal Loan - $5,000 - 4 Years 10.16% 10.41% -0.25%
New Auto Loan - 5 Years 2.57% 3.83% -1.26%
Used Auto Loan - 2 year Old - 4 Years 2.76% 4.03% -1.27%
HELOC - 80% LTV - $50,000 4.14% 4.41% -0.27%
HE Loan - 80% LTV - $50,000 - 15 Years 5.67% 5.99% -0.32%

Mortgage Loan Products Credit Unions Bank Average Difference
30 Year Fixed Conforming 4.11% 4.15% -0.04%
30 Year Fixed Jumbo 4.20% 4.07% 0.13%
5/1 Year ARM Conforming 2.93% 2.89% 0.04%

Credit Card Products Credit Unions Bank Average Difference
Platinum 9.02% 10.86% -1.84%
Annual Fee $25.00 $65.00 $-40.00
Maximum Late Fee $26.03 $33.81 $-7.78
Reward 10.00% 12.36% -2.36%
Annual Fee $26.71 $101.13 $-74.42
Maximum Late Fee $22.58 $33.22 $-10.64

Indirect Auto Loan Products Credit Unions Bank Average Difference
Indirect A Tier New Auto Loan - 5 Years 3.60% 3.78% -0.18%
Indirect B Tier New Auto Loan - 5 Years 5.34% 5.32% 0.02%
Indirect C Tier New Auto Loan - 5 Years 7.52% 6.77% 0.74%

Averages displayed are straight averages of all institutions within the Informa Research Services database for the selected region as of Monday, September 01, 2014. For detailed disclosures click here.

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Business Rates

Market
Daily Financial Rates -- 2014-09-02

Financial Rates


Tuesday, September 2, 2014

03:55 AM CDT

TREASURY YIELD CURVE
(based on the $1 million market)

TermTue
9/2
Fri
8/29
Thu
8/28
Wed
8/27
Tue
8/26
1 month0.020.020.020.040.02
3 month0.030.030.040.030.04
6 month0.050.050.050.050.05
1 year0.090.110.110.120.11
2 year0.480.500.510.520.53
3 year0.940.950.970.980.99
5 year1.631.631.651.681.69
7 year2.052.042.052.082.09
10 year2.352.342.372.392.39
20 year2.832.822.852.892.88
30 year3.093.083.113.153.13

TREASURY BILLS

Results of the August 25, 2014 auction of short-term U.S. government bills, sold at a discount from face value in units of $10,000 to $ 1 million

TermLatest
Mon, 8/25
Week Ago
Mon, 8/18
13 weeks0.0300.030
26 weeks0.0500.050

PRIME RATE

3.25% Last changed December 16, 2008

FEDERAL FUNDS

TermTue
9/2
Fri
8/29
Thu
8/28
Wed
8/27
Tue
8/26
high0.3120.5160.3120.5160.312
low0.0300.0600.0500.0800.050
near closing bid0.0500.0600.0400.0800.070
offered0.2800.2800.0800.1100.280
effective rate20.0900.0800.1100.0800.120

FREDDIE MAC (Mortgage commitments, 30 days)

TermTue
9/2
Fri
8/29
Thu
8/28
Wed
8/27
Tue
8/26
30 year0.000.000.000.000.00

FANNIE MAE (Mortgage commitments, 30 days)

TermTue
9/2
Fri
8/29
Thu
8/28
Wed
8/27
Tue
8/26
30 year3.6863.6773.7203.7133.717

LIBOR

TermTue
9/2
Fri
8/29
Thu
8/28
Wed
8/27
Tue
8/26
1 month0.216000.215000.210000.212000.21100
3 month0.372000.371000.364000.366000.36200
6 month0.541000.541000.536000.544000.53800
1 year0.845000.846000.842000.847000.84200

COMMERCIAL PAPER (Financial, 90 days)

TermWeek ended
8/26
Week ended
8/19
90 days0.230.23

NA: Data not available at time of page generation (shown at top of page)

Sources:
Wall Street Journal
U.S. Dept. of the Treasury


All rates are from the previous business day unless otherwise noted. ReadMore

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Consumer spending, income slip in July

Market
WASHINGTON (9/2/14)--Personal income and consumer spending both returned disappointing results in June, according to reports released on Friday.
 
Personal income increased at a 0.2% rate in July, the slowest rate since December, the Bureau of Economic Analysis reported Friday ( Moody's Aug. 29).
 
Meanwhile, consumer spending, which accounts for about 70% of the economy, dropped in July for the first time in six months. Household purchases decreased 0.1% after increasing 0.4% in June, the Commerce Department reported. None of the 79 economists in a Bloomberg survey projected a decrease (Aug. 29).
 
In no other month this year has personal income grown at a rate less than 0.4%.Wage income growth also slowed to 0.2%. Rental income led gains as dividend income growth slowed. Rapidly rising tax payments limited disposable income increases to 0.1%. Nominal consumer spending fell 0.1%.
 
Overall price growth slowed to 0.1%, and core price gains held steady at a modest rate. Real spending fell 0.2%. Spending was hurt by the decline in vehicle sales as real durable goods spending posted the largest decline.
 
Real nondurable and service spending also fell for the month. The saving rate rose to 5.7%.
 
Healthy consumer fundamentals are supportive of spending, making continued declines unlikely, Moody's said. Job growth is strong and gains are now coming broadly across industries and wage tiers. Wage and salary income increases are stronger this year than they have been since the recession, although growth in wage rates remains tepid.
 
Other reports Friday indicated consumer sentiment unexpectedly rose in August and manufacturing in the Midwest region pickup more than projected, Bloomberg reported. ReadMore

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News of the Competition (09/02/2014)

Market
WASHINGTON (9/2/14)--The U.S. Department of Justice released a 30-page statement detailing the wrongdoings of Bank of America that led to its record-setting $17 billion settlement. The documents cite how Bank of America, Countrywide and Merrill Lynch--the latter two that were acquired by Bank of America--cut mortgage underwriting requirements until they were nearly nonexistent ( American Banker Aug. 29). Countrywide's policy allowed branch underwriters to refer loan applications that failed to meet guidelines to a "structured loan desk" that would consider--and often make--exceptions. Compliance and credit reviews of Merrill Lynch found as much as 50% of loan samples were not compliant with laws and regulations or applicable underwriting guidelines, lacked the sufficient offsetting compensating factors, or had a loan file missing a key piece of documentation. Even after it acquired Countrywide in 2008 and Merrill Lynch in 2009, Bank of American itself did not always meet Federal Housing Administration requirements. "Reviews of samples of FHA loans originated by Bank of America showed unacceptable rates of material underwriting defects," the statement ReadMore

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