[Economic Indicators May, 2008] [Page Number 30] [From the U.S. Government Publishing Office, www.gpo.gov] INTEREST RATES AND BOND YIELDS Interest rates were mixed in May. ________________________________________________________________________________________________________________________________________________ [Percent per annum] -------------------------------------------------------------------------------------------------------------------------------------------------------- U.S. Treasury security yields High-grade Discount window ---------------------------------------- municipal (N.Y. F.R. Bank) \4 New-home Constant maturities \2\ bonds Corporate 5\ Prime rate Federal mortgage Period 3-month --------------------------- (Standard Aaa bonds ---------------------- charged by funds yields bills (new & Poor's) (Moody's) Primary Discount banks \5\ rate \6\ (FHFB) \7\ issues) \1\ 3-year 10-year 30-year \3\ credit rate -------------------------------------------------------------------------------------------------------------------------------------------------------- 1998............................ 4.81 5.14 5.26 5.58 5.12 6.53 ........ 4.92 8.35 5.35 7.07 1999............................ 4.66 5.49 5.65 5.87 5.43 7.04 ........ 4.62 8.00 4.97 7.04 2000............................ 5.85 6.22 6.03 5.94 5.77 7.62 ........ 5.73 9.23 6.24 7.52 2001 ........................... 3.45 4.09 5.02 5.49 5.19 7.08 ........ 3.40 6.91 3.88 7.00 2002 ........................... 1.62 3.10 4.61 * 5.05 6.49 ........ 1.17 4.67 1.67 6.43 2003 ........................... 1.02 2.10 4.01 * 4.73 5.67 2.12 * 4.12 1.13 5.80 2004 ........................... 1.38 2.78 4.27 * 4.63 5.63 2.34 * 4.34 1.35 5.77 2005 ........................... 3.16 3.93 4.29 * 4.29 5.24 4.19 * 6.19 3.22 5.94 2006............................ 4.73 4.77 4.80 4.91 4.42 5.59 5.96 * 7.96 4.97 6.63 2007 ........................... 4.41 4.35 4.63 4.84 4.42 5.56 5.86 * 8.05 5.02 6.41 2007:May........................ 4.77 4.69 4.75 4.90 4.37 5.47 6.25 * 8.25 5.25 6.22 June...................... 4.63 5.00 5.10 5.20 4.64 5.79 6.25 * 8.25 5.25 6.54 July...................... 4.84 4.82 5.00 5.11 4.64 5.73 6.25 * 8.25 5.26 6.70 Aug....................... 4.34 4.34 4.67 4.93 4.73 5.79 5.75 * 8.25 5.02 6.73 Sept...................... 4.01 4.06 4.52 4.79 4.57 5.74 5.25 * 7.75 4.94 6.58 Oct....................... 3.97 4.01 4.53 4.77 4.41 5.66 5.00 * 7.50 4.76 6.55 Nov....................... 3.49 3.35 4.15 4.52 4.45 5.44 5.00 * 7.50 4.49 6.42 Dec....................... 3.08 3.13 4.10 4.53 4.22 5.49 4.75 * 7.25 4.24 6.21 2008:Jan........................ 2.86 2.51 3.74 4.33 4.00 5.33 3.50 * 6.00 3.94 6.02 Feb....................... 2.21 2.19 3.74 4.52 4.35 5.53 3.50 * 6.00 2.98 5.96 Mar ...................... 1.38 1.80 3.51 4.39 4.67 5.51 2.50 * 5.25 2.61 5.92 Apr ...................... 1.32 2.23 3.68 4.44 4.43 5.55 2.25 * 5.00 2.28 5.98 May ...................... 1.71 2.69 3.88 4.60 4.34 5.57 2.25 * 5.00 1.98 .......... Week ended: 2008:May 10..................... 1.61 2.55 3.85 4.57 4.44 5.57 2.25 * 5.00 1.94 .......... 17.................... 1.80 2.69 3.86 4.58 4.36 5.56 2.25 * 5.00 1.96 .......... 24.................... 1.86 2.70 3.84 4.57 4.23 5.53 2.25 * 5.00 1.96 .......... 31.................... 1.87 2.91 4.03 4.71 4.34 5.67 2.25 * 5.00 2.05 .......... June 7................... 1.82 2.78 3.98 4.68 4.33 5.63 2.25 * 5.00 1.99 .......... -------------------------------------------------------------------------------------------------------------------------------------------------------- \1\ Bank-discount basis. \2\ Yields on actively traded issues adjusted to constant maturities. \3\ Weekly data are Wednesday figures. \4\ Discount window borrowing for primary credit and discount rate (adjustment credit). The rate for primary credit replaced the rate for adjustment credit. \5\ Average effective rate for year; rate in effect at end of month or week. \6\ Daily effective rate; weighted average of rates on brokered trades. \7\ Effective rate (in the primary market) on conventional mortgages, reflecting fees and charges as well as contract rate and assumed, on the average, repayment at end of 10 years. * Discount rate (adjustment credit) series was discontinued after January 8, 2003. Series for 30-year constant maturity was discontinued on February 18, 2002, and reintroduced on February 9, 2006. Sources: Department of the Treasury, Board of Governors of the Federal Reserve System, Federal Housing Finance Board, Moody's Investors Service, and Standard & Poor's.