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July 9, 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 0.45% 0.28% 0.17%
Personal Savings $1,000 0.21% 0.10% 0.11%
Personal Interest Checking $2,500 0.34% 0.15% 0.19%
NSF Fee $27.74 $31.91 $-4.17
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 10.13% 10.42% -0.29%
New Auto Loan - 5 Years 2.58% 3.82% -1.24%
Used Auto Loan - 2 year Old - 4 Years 2.76% 4.01% -1.25%
HELOC - 80% LTV - $50,000 4.19% 4.41% -0.22%
HE Loan - 80% LTV - $50,000 - 15 Years 5.67% 6.00% -0.33%

Mortgage Loan Products Credit Unions Bank Average Difference
30 Year Fixed Conforming 4.19% 4.22% -0.03%
30 Year Fixed Jumbo 4.25% 4.19% 0.06%
5/1 Year ARM Conforming 2.93% 2.89% 0.04%

Credit Card Products Credit Unions Bank Average Difference
Platinum 9.19% 11.04% -1.85%
Annual Fee $25.00 $48.60 $-23.60
Maximum Late Fee $26.17 $34.28 $-8.11
Reward 9.97% 11.94% -1.97%
Annual Fee $26.71 $99.75 $-73.04
Maximum Late Fee $22.51 $33.15 $-10.64

Indirect Auto Loan Products Credit Unions Bank Average Difference
Indirect A Tier New Auto Loan - 5 Years 3.59% 3.77% -0.18%
Indirect B Tier New Auto Loan - 5 Years 5.34% 5.30% 0.03%
Indirect C Tier New Auto Loan - 5 Years 7.53% 6.72% 0.80%

Averages displayed are straight averages of all institutions within the Informa Research Services database for the selected region as of Tuesday, July 08, 2014. For detailed disclosures click here.

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Business Rates

Market
Daily Financial Rates -- 2014-07-09

Financial Rates


Wednesday, July 9, 2014

03:55 AM CDT

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

TermWed
7/9
Tue
7/8
Fri
6/27
Thu
6/26
Wed
6/25
1 month0.020.020.010.010.01
3 month0.030.040.040.030.03
6 month0.060.060.060.050.06
1 year0.110.120.110.110.12
2 year0.510.520.460.480.49
3 year0.990.000.900.920.95
5 year1.701.741.641.681.70
7 year2.192.242.142.172.19
10 year2.582.632.532.572.59
20 year3.123.173.083.123.14
30 year3.383.443.353.383.41

TREASURY BILLS

Results of the July 7, 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, 7/7
Week Ago
Mon, 6/23
13 weeks0.0300.025
26 weeks0.0600.050

PRIME RATE

3.25% Last changed December 16, 2008

FEDERAL FUNDS

TermWed
7/9
Tue
7/8
Fri
6/27
Thu
6/26
Wed
6/25
high0.3120.3120.3120.3120.312
low0.0500.0500.0500.0500.050
near closing bid0.0700.0700.0600.0600.080
offered0.2800.1000.2800.2800.120
effective rate20.1200.1200.1200.1200.130

FREDDIE MAC (Mortgage commitments, 30 days)

TermWed
7/9
Tue
7/8
Fri
6/27
Thu
6/26
Wed
6/25
30 year0.000.000.000.000.00

FANNIE MAE (Mortgage commitments, 30 days)

TermWed
7/9
Tue
7/8
Fri
6/27
Thu
6/26
Wed
6/25
30 year3.8153.8213.7523.7553.782

LIBOR

TermWed
7/9
Tue
7/8
Fri
6/27
Thu
6/26
Wed
6/25
1 month0.221000.219000.149500.151000.15150
3 month0.376000.375000.234100.233850.23360
6 month0.543000.544000.326150.325900.32630
1 year0.857000.859000.546100.547100.54710

COMMERCIAL PAPER (Financial, 90 days)

TermWeek ended
7/8
Week ended
6/24
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 credit continues to advance in May

Market
WASHINGTON (7/9/14)--Total outstanding consumer credit climbed $19.6 billion in May, according to Federal Reserve data released Tuesday, a number that falls short of expectations, but still points to building consumer confidence, especially in making big-ticket purchases.

Within credit unions, nonrevolving credit, which is associated with purchasing larger items such as automobiles and homes, drove the gains, climbing to $236.5 billion from $232 billion in April.

Revolving credit, tied largely to credit cards, inched up to $42.8 billion from $42.2 billion in April for credit unions.

"Extremely low interest rates and easier access to credit are enticing consumers to finance large purchases such as education and vehicles," said Moody's analyst Andrew Davis ( Economy.com July 8).

The rise in total outstanding consumer credit in May falls far behind April's $26.1 billion surge and sits below the average increase over the last three months of $21.8 billion.

Further, revolving credit balances overall only gained $1.8 billion in May after an $8.8 billion boom in April.

"Revolving balances decelerated as consumers remain hesitant to take on higher-interest debt," Davis said. "It is encouraging that this segment added $1.8 billion in May, but the pace will have to pick up considerably to make up for the sluggish growth that has persisted throughout the recovery." ReadMore

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News of the Competition (07/09/2014)

Market
  • WASHINGTON (7/9/14)-- The U.S. Department of Justice has announced that SunTrust Mortgage Inc. agreed to a $320 million settlement intended to resolve Justice's criminal investigation of SunTrust's administration of the Home Affordable Modification Program (HAMP).  The settlement is divided as follows: the bank will pay up to $284 million in restitution to borrowers; $16 million in forfeiture, which will fund future law enforcement investigations into mortgage and Troubled Asset Relief Program-fund fraud; and $20 million to a grant administrator to fund housing counseling agencies and other consumer advocacy non-profits. Justice charges that SunTrust "misled numerous mortgage servicing customers" who sought mortgage relief through HAMP. Justice alleges that SunTrust made misrepresentations and omissions to borrowers in HAMP solicitations, and failed to process HAMP applications in a timely fashion. As a result of SunTrust's mismanagement of HAMP, thousands of homeowners who applied for a HAMP modification with SunTrust suffered serious financial harm, the department said in its release...
     
  • WASHINGTON (7/9/14)-- Homeowners have pulled in $3.1 billion in cash from a recent federal settlement with a baker's dozen of big banks over alleged shoddy mortgage processing and wrongful foreclosure action, according to a report released by the Federal Reserve Monday ( CBSNews.com July 7). With individual settlement amounts awarded to about 4.2 million borrowers ranging from a few hundred dollars to $125,000, the Federal Reserve's report said 3.4 million homeowners already have cashed checks as of late April. The 13 banks involved in the settlement include Aurora, Bank of America, Citigroup, Goldman Sachs, HSBC, JPMorgan, MetLife Bank, Morgan Stanley, PNC Financial Services, Sovereign, SunTrust, U.S. Bank and Wells Fargo. The original $9.3 billion settlement requires the banks to pay $3.6 billion in cash as well as $5.7 billion in aid in the form of reduced mortgage loans...
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