National Mortgage Rates for Jan. 10, 2013


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3.67% (30-year fixed)    0.32 (average points)

Mortgage rates spiked this week as investors reacted to speculation that the Federal Reserve could end its bond-buying program this year.

The 30-year fixed-rate mortgage rose 9 basis points to 3.67%. A basis point is one-hundredth of 1 percentage point.

The 15-year fixed-rate mortgage rose 4 basis points to 2.92%. The average rate for 30-year jumbo mortgages, or generally for those of more than $417,000, rose 2 basis points to 4.1%.

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The 5/1 adjustable-rate mortgage rose 1 basis point to 2.77%. With a 5/1 ARM, the rate is fixed for five years and adjusted annually thereafter.


0.27% (1-year CD yields)    0.89% (5-year CD yields)

Rates on certificates of deposit dipped in this week's interest rate survey. Don't panic: There were some changes to the banks in the weekly survey that could account for the change in CD rates and money market account rates.

Down 1 basis point, the average one-year CD yield is 0.27%. The average five-year yield is also down 1 basis point to 0.89%. A basis point is one-hundredth of 1 percentage point.

High rollers also were hit this week. For deposits of $100,000, the average one-year jumbo CD yield dropped 1 basis point to 0.3%. The five-year jumbo yield is unchanged for the third consecutive week at 0.91%.

The average money market account yield is up 1 basis point to 0.12%.

Auto Loans

4.15% (60-month, new car)    4.84% (36-month, used car)

Auto loan rates fell a little bit for the second straight week.

Average rates for 60-month and 48-month new-car loans fell 1 basis point to 4.15% and 4.07%, respectively. A basis point is one-hundredth of 1 percentage point.

For used cars, the average rate on a 36-month loan was down 3 basis points to 4.84%.

Automakers showed off a wide variety of new electronic options for car buyers at this week's annual International Consumer Electronics Show, according to The Detroit News. Demand for such electronics has risen in recent years, with spending expected to reach $11.7 billion this year, according to the report.

Home Equity

5.03% (line of credit)    6% (loan)

Rates on loans backed by home equity were mixed in Bankrate's weekly survey.

The typical home equity loan fell 4 basis points to 6%. The typical home equity line of credit, or HELOC, rose 2 basis points to 5.03%.

A basis point is one-hundredth of 1 percentage point.

Credit Cards

14.02% (all fixed)    14.59% (all variable)

Credit card rates remained unchanged this week, according to Bankrate's latest survey of interest rates. The average annual percentage rate for variable-rate credit cards stayed at 14.59%. The average APR for fixed-rate credit cards didn't budge from 14.02%, where it has been since mid-October.

Discover, American Express and Citi began defending themselves Monday against a class-action lawsuit that alleges the three colluded to force consumers to sign arbitration agreements. These clauses stipulate that consumers must resolve disputes through arbitration rather than through court. Consumer advocates say arbitration is costlier for consumers and favors the companies. The companies say arbitration is the most cost-effective way to settle disputes. A judge for the U.S. District Court for the Southern District of New York is hearing the case with no jury in New York City.