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The best bank rates are a common search for the American consumer. This can be on mortgage rates, saving account rates, checking rates and of course CD rates. The best bank rates are being offered by local community banks. Unfortunately this limits the number of people that can take advantage of them since there is generally a residency requirement. So the only way you will know if you are obtain a good rate is to know the national average of the financial instrument you are looking for. The national average for the current mortgage rates are the 30 year fixed rate is 4.81%. The 15 year fixed rate is 4.04% and the 1 year ARM is 3.21%. These are for the week of March 25, 2011. The national average for savings accounts is about 0.20%. At this time no federal agency is keeping track of this statistic so this figure is from numerous different sites offering their services that cannot be verified. There are many that are only offering 0.05% APY on savings being deposited. There are also a few local banks offering 2.00% APY. The best one being offered nation wide is from the Discovery Bank. Their savings account is earning an APY of 1.20% and has a minimum deposit of $500 to open an account. Their money market account is earning 1.00% APY for deposits below $10,000. Above $10,000 the APY is 1.10%. Capital One is offering a savings account that is earning an APY of 1.15% for deposits over $2,500. Below this amount the APY is only 0.05%. When it comes to money market accounts, Gogebic Range Bank has the best rate at an APY of 1.35% for deposits above $100,000, but it is only available to residents of Michigan. The best money market rate available to residents of any US state is from AmTrust Direct. For deposits between $10,000 and $150,000 the APY is 1.25%. We strive to bring you the latest and most accurate data possible from the home sites of the financial institutions we name. Always remember, the bigger the risk, the larger the reward or loss. Invest with caution. For additional resources involving financial help, please view SunTrust CD Rates, PNC Online Banking, best bank savings rates, Westpac Online Banking and Online Banks at http://www.onlinebanksblog.com/union-online-banking
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