Market

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Datatrac RateDex

	SAVINGS
	Regular Savings	0.42	0.29		CUs by 13 bp
	Interest Checking	0.3	0.22		CUs by 8 bp
	Money Market	0.78	0.5		CUs by 28 bp
	1 Year CD	1.5	1.18		CUs by 32 bp
	CONSUMER LOANS
	Reg Credit Card	11.69	12.58		CUs by 89 bp
	48 Mo New Car	5.15	6.34		CUs by 119 bp
	48 Mo Used Car	5.42	6.92		CUs by 150 bp
	36 Mo Unsecured	10.62	12.49		CUs by 187 bp
	MORTGAGE LOANS
	Home EQ LOC	4.46	4.92		CUs by 46 bp
	1 Yr ARM	4.29	4.67		CUs by 38 bp
	30 Yr Fixed	5.13	5.09		Bks by 4 bp
	All Data Current as of 11/20/2009. Based on 16362 institutions. Note: Average rates are listed; individual rates will vary. (See Datatrac Research Standards)				bp=Basis points (100 bp=1%)

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Market News

MADISON, Wis. (11/23/09)

• In October, unemployment increased in 29 states, rising to record levels in California, Delaware, South Carolina and Florida, the Labor Department said Friday. Michigan registered the highest unemployment rate with 15.1%, followed by Nevada (13%) and Rhode Island (12.9%). The 29 states reporting an increase in unemployment in October is up from the 22 that did in September. Last month, the national unemployment rate reached 10.2%--a 26-year high. "We're still going to see the unemployment rate in many metro areas and many states rise for quite some time, going into next year," said Marisa Di Natale, a director at Moody's Economy.com. "Employers won't start hiring again until they're confident the economy has really started to turn around, and they're convinced there's work for them to do" (Bloomberg.com Nov. 20) ...

• The Commercial Leading Indicator for Brokerage Activity rose 0.9% to an index reading of 102.4 in the third quarter from 101.5 in the second quarter, but is 11.1% below a reading of 115.3 in the third quarter of 2008. The index in the second quarter was at the lowest level since the first quarter of 1994. The National Association of Realtors (NAR) track of the commercial leading indicator dates back to 1990. The recent steep economic downturn has had a significant impact on commercial real estate sectors, but credit availability is the big unknown that will determine how soon commercial markets recover, according to NAR. Lawrence Yun, NAR chief economist, said some initial movements earlier this week in commercial mortgage-backed securities are encouraging. "The first commercial mortgage bond deal in over a year shows the Federal Reserve's efforts to sell securities through the TALF program can be fruitful, but the level of activity is well below what is required to resuscitate the commercial market," Yun said. "Credit availability needs to significantly rebound for any hope of a meaningful commercial recovery in 2010" For Commercial Real Estate Forecast Uncertain, use the link ...

News of the Competition

MADISON, Wis. (11/23/09)

• Federal Reserve officials are heightening their monitoring of U.S. banks to make sure lenders can weather a reversal of skyrocketing global-asset prices, said sources familiar with the matter. The Fed is checking to see if banks such as Goldman Sachs Group, JPMorgan Chase & Co. and Morgan Stanley have sufficient capital to manage the risks they take on, the amount of knowledge they possess about their counterparties' strength, and whether risk managers have the authority to impact bank polices and practices, analysts said. The fed has been criticized by lawmakers for failing to prevent a drop in lending standards that lawmakers said contributed to the credit crisis (Bloomberg.com Nov. 20) ...

• Regulators have closed United Commercial Bank in San Francisco, citing inadequate capital and other material weaknesses, the California Department of Financial Institutions (DFI) announced last week. As of Oct. 29, the bank had total assets of roughly $10.9 billion and total deposits of about $7.5 billion. DFI has been scrutinizing the bank and ordered it to bolster its capital reserves to a safe and sound level, analysts said. However, the bank's efforts to so failed, analysts said. DFI named the Federal Deposit Insurance Corp. as receiver of the bank immediately following its closure (Investment Weekly News Nov. 28) ...