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News Now

March 5, 2015

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 0.49% 0.27% 0.22%
Personal Savings $1,000 0.20% 0.09% 0.11%
Personal Interest Checking $2,500 0.36% 0.15% 0.21%
NSF Fee $28.04 $30.69 $-2.65
Personal MMDA $2,500 0.18% 0.10% 0.08%
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 10.09% 10.09% 0.00%
New Auto Loan - 5 Years 2.60% 3.74% -1.14%
Used Auto Loan - 2 year Old - 4 Years 2.76% 3.99% -1.23%
HELOC - 80% LTV - $50,000 4.11% 4.35% -0.24%
HE Loan - 80% LTV - $50,000 - 15 Years 5.60% 5.85% -0.25%

Mortgage Loan Products Credit Unions Bank Average Difference
30 Year Fixed Conforming 3.82% 3.85% -0.03%
30 Year Fixed Jumbo 3.89% 3.90% -0.01%
5/1 Year ARM Conforming 3.03% 2.97% 0.06%

Credit Card Products Credit Unions Bank Average Difference
Platinum 8.84% 10.60% -1.76%
Annual Fee $25.00 $31.00 $-6.00
Maximum Late Fee $25.37 $31.95 $-6.58
Reward 10.11% 13.03% -2.92%
Annual Fee $29.62 $94.15 $-64.53
Maximum Late Fee $22.27 $32.98 $-10.71

Indirect Auto Loan Products Credit Unions Bank Average Difference
Indirect A Tier New Auto Loan - 5 Years 3.57% 3.58% -0.01%
Indirect B Tier New Auto Loan - 5 Years 5.27% 5.18% 0.09%
Indirect C Tier New Auto Loan - 5 Years 7.48% 6.66% 0.82%

Averages displayed are straight averages of all institutions within the Informa Research Services database for the selected region as of Wednesday, March 04, 2015. For detailed disclosures click here.

Business Rates

Market
Daily Financial Rates -- 2015-03-05

Financial Rates


Thursday, March 5, 2015

03:55 AM CST

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

TermThu
3/5
Wed
3/4
Tue
3/3
Mon
3/2
Fri
2/27
1 month0.010.010.020.020.02
3 month0.010.020.020.030.03
6 month0.080.080.080.070.07
1 year0.260.260.220.220.22
2 year0.660.680.660.660.66
3 year1.071.091.061.041.04
5 year1.601.611.571.541.54
7 year1.931.941.891.861.86
10 year2.122.122.082.032.03
20 year2.492.492.462.392.39
30 year2.722.712.682.632.63

TREASURY BILLS

Results of the March 2, 2015 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, 3/2
Week Ago
Mon, 2/23
13 weeks0.0150.020
26 weeks0.0750.065

PRIME RATE

3.25% Last changed December 16, 2008

FEDERAL FUNDS

TermThu
3/5
Wed
3/4
Tue
3/3
Mon
3/2
Fri
2/27
high0.3120.3120.3120.3120.312
low0.0500.0500.0500.0100.070
near closing bid0.1000.0500.0800.0500.060
offered0.2700.0800.1000.2700.090
effective rate20.1300.1300.1300.1000.140

FREDDIE MAC (Mortgage commitments, 30 days)

TermThu
3/5
Wed
3/4
Tue
3/3
Mon
3/2
Fri
2/27
30 year0.000.000.000.000.00

FANNIE MAE (Mortgage commitments, 30 days)

TermThu
3/5
Wed
3/4
Tue
3/3
Mon
3/2
Fri
2/27
30 year3.4003.3753.3303.3623.326

LIBOR

TermThu
3/5
Wed
3/4
Tue
3/3
Mon
3/2
Fri
2/27
1 month0.236000.236000.235000.237000.23700
3 month0.386000.388000.384000.386000.38500
6 month0.540000.541000.540000.539000.53900
1 year0.841000.841000.839000.839000.83900

COMMERCIAL PAPER (Financial, 90 days)

TermWeek ended
3/3
Week ended
2/24
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.

Economic activity expands in most districts: Fed Beige Book

Market
WASHINGTON (3/5/15)--Economic activity continued to expand across most of the 12 districts tracked by the Federal Reserve in its Beige Book report, a summary of U.S. economic conditions, released Wednesday.

For the period between early January and mid-February, six districts reported that the local economy expanded at a moderate pace, Philadelphia and Cleveland reported modest improvements and Kansas City noted slight expansion.

The Fed found that consumer spending and home sales rose in most districts, but that residential construction reports were a mixed bag.

Residential sales climbed in Boston, Philadelphia, Richmond, St. Louis, Dallas and San Francisco, but fell in Cleveland and Kansas City. Much of the decline seen across the country, however, was attributed to poor weather conditions.

The report also found that financial services conditions mostly improved during the period, with overall loan demand climbing in all districts except Kansas City.

Residential lending improved in all districts, with a number of regions noting increased levels of refinancing activity.

"Reports across the districts indicated that credit quality has remained largely unchanged or has improved since the prior reporting period," the Fed added.

Further, oil prices and a strengthening dollar dragged on manufacturing, agriculture and energy exploration across many districts, the Fed said.

News of the Competition (3/5/15)

Market
  • NEW YORK (3/5/15)-- After its recent breakup with American Express, Costco this week announced new partnerships with Citigroup and Visa--deals that likely will greatly expand credit card use at the wholesale retailer, which traditionally has only accepted American Express, cash or debit cards ( The Wall Street Journal March 2). After 16 years of exclusively accepting AmEx cards, starting in April 2016 customers will be able to use their Visa credit cards to make purchases. Visa will be the only credit card accepted at Costco. Costco also is partnering with Citi to offer a new co-branded card that will replace the AmEx-Costco card, according to The Journal . Any cards branded MasterCard or Discover Financial Services will not be accepted at the stores ...
     
  • WASHINGTON (3/5/15)-- Smaller banks are outperforming their larger counterparts, with higher annual net income and loan growth posted in the final quarter of 2014, according to the most recent quarterly banking profile from the Federal Deposit Insurance Corp. ( American Banker March 4). Net income for small banks climbed 28% on a year-over-year basis, while the industry overall experienced a 7.3% decline. Further, loan growth at small banks rose by 2.5% annually for the quarter, compared with 1.8% for all other banks. Finally, income at the four largest U.S. banks dropped by $4 billion on an annual basis, largely driven by higher litigation costs ...
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