Bank CD rates had mixed results for the week ending October 2, 2009.  Short terms CD rates were lower while midterm CD rates were higher and the longer term CD rates were unchanged.  While bank CD rates moved very little in total, Treasury rates continued to move lower for the week with the one year Treasury rate reaching the lowest yield of the year at 0.37%.

The best six month CD rates available nationally were lower by two basis points or 2/100 of a percent for the week.  The average yield on the best six month CD rates moved from 1.69% at the close of September 25, 2009 to 1.67% on October 2.

The average of the best one year CD rates moved in the opposite direction by an equal amount.  One year CD rates were up by two basis points bringing the average two year CD rate up to 2.05% from the prior week’s average interest rate of 2.03%.

Two year CD rates available nationally were unchanged for the week.  The average of the best two year CD rates held firm with a 2.34% yield.

The average of the best five year CD rates available nationally stuck with the two year plan and was unaltered for the week.  With no change in yield week over week, the average five year CD rate remained at 3.40%.

State and regional bank CD rates continued to feel a little more pressure on the down side than the national rates.  CD rates in most of the states were squeezed lower with the states that have some of the best bank rates experiencing the greatest drop in CD rates.  Even with a larger drop in state bank CD rates, most of the highest CD rates per term are found in the individual states as opposed to being on the national bank CD rate list.

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