While the average of the national bank CD rates held firm for the week, California CD rates slipped across all terms.  The rate reductions were moderate on the shorter term CDs and more substantial for the long term, two and five year CD rates in California.

The average of the best six month CD rates in California fell one basis point or 1/100 of a percent for the week ending September 18, 2009.  The average rate closed the week with a yield of 1.84%.  First Choice Bank is the leader in this term category with a six month CD rate of 2.07%.

The best one year CD rate average in California also moved lower by one basis point.  The average rate in the six month CD term dropped from 2.14% last week to 2.13% as of Friday.  First Choice Bank holds the top spot here as well with a one year CD yielding 2.38%.

The two year CD rates in California were down a more substantial amount, closing out the week lower by four basis points.  The average of the best two year CD rates started the week at 2.48% ad ended at 2.44%.  The best two year CD rate in California comes from Pacific Premier Bank which offers a two year at 2.55%. 

Five year CD rates in the Golden State tumbled a whopping 13 basis points.  The average for the best five year CD rates in California finished with a yield of 3.32%.  Broadway Federal Bank is promoting the best five year CD rate at 3.56%.
 
CD rates in California have been fairly volatile in the past two weeks.  For those investors that have CDs maturing soon, be sure to check the tables regularly as interest rate changes this frequent are terribly uncommon intra week and some of the promotional rates by the state and regional banks are terminated shortly after the promotions begin.

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