Current CD Rates

The average gap between loan rates and deposit rates has increased to a year high this week.

The Bank of Korea released data that the average loan rate climbed to 5.8% this past week which is an increase over the week before. Rates for both home loans and corporate loans had a rate hike this last week.

On the other side of the spectrum if we look at CD rates they're at the lowest rate in 25 years. This is most likely due to banks trying to remain profitable.

The raise in loan interest rates and the fall in deposit interest rates mean the gap between the two also widened last week.

This is amid complaints about increasing mortgage rates in a time of financial strain on the country as a whole.

Mortgage rates and CD rates are usually linked pretty well but mortgage rates have started to rise and certificate of deposit rates continue to fall.

Mortgage rates have fell during the recession but they have started to inch back up in the past few months. CD rates probably have some time before they make the turn around however.

CD rates may not return to normal until the Fed decides to raise interest rates again and your guess is as good as anybody's on when they plan on doing that. Could be in a few months or a year.

People are currently looking into what regulations can be implemented to help out those looking for loans.