In the most recent survey of bank CD rates conducted by Selectcdrates.com, CD rates slumped slightly compounding last week’s similar dip. The average yield on the Selectcdrates.com CD rate index moved down to 1.081 percent from an average rate of 1.087 percent found in the previous rate survey. The Selectcdrates.com index covers the top ten best CD rates with maturities of three months, six months, one year, two years and five years.
Last week was chock full of economic news, all of which appeared to show little impact on CD interest rates. The government reported Gross Domestic Product results for the 4th quarter of 2011 that at first look appeared to be relatively strong at 2.8%. The analysis discredited the number by revealing a significant portion of the gain was due to an increase in business inventories. European debt worries and possibility of a deal with a forced – voluntary reduction in Greece debt is never ending story. On top of that, stock prices moved lower for the first time in quite some time.
The average rate for the top ten three month CDs inched up by .5 basis points this week, that’s just 5/1000ths of a percent. The average three month rate increased to 0.488 percent from 0.483 percent in the previous week. The top three month CD continues to be the products of Virtual Bank and Hudson City Savings Bank at an interest rate of 0.60 percent. The next highest rate is also unchanged at 0.51 percent and can be obtained at Beal Bank as well as UmbrellaBank.com.
For the third straight week, the average rate on the top ten highest six month CD rates was unchanged. The average for this maturity has held once again at 0.770 percent. The best overall rate on a six month CD is available at AloStar Bank of Commerce with an interest rate of 0.85 percent. The next best rate comes from Stonebridge Bank and Virtual Bank, both banks offering a six month CD with an interest rate of 0.80 percent.
The best one year CD rates showed little change but did move lower by .5 basis points, pushing the average yield for this term to 1.048 percent from 1.053 percent in the prior week. The three highest rates available nationally were not altered over the week. The highest rate is at Doral Bank where a one year CD rate is 1.15 percent. Beal Bank follows with a one year CD rate of 1.10 percent. And the runner up is CIT Bank with a one year certificate yielding 1.08 percent.
The two year CD maturities gave up almost one basis point this week. The average rate on the top ten best two year CDs slipped from 1.224 percent last week to 1.215 percent in the current survey. American Express Bank’s two year CD still holds the top rate at 1.30 percent. Nipping at Am Ex is CIT Bank with a two year CD rate of 1.26 percent and only one basis point below that rate is the two year certificate coming from Ultima Bank with a yield of 1.25 percent.
Five year CD rates were down again, taking almost two basis points off the average yields. The rate for the top highest five year CD rates now sits at 1.885 percent. The best five year rate is at State Bank of India with a rate of 2.02 percent. Next up is the five year CD at OnBank with a yield of 1.95 percent. The third highest five year bank CD is at Intervest national Bank which promoted this term CD with an interest rate of 1.92 percent.
To find more information on the best CD rates by maturity for the January 30, 2012 CD rate survey please see the following CD rate tables at Selectcdrates.com: three month CD rates, six month CD rates, one year CD rates, two year CD rates and five year CD rates.
CD rates remained relatively stable in the most recent survey of the top national CD rates. The average CD rate, as measured by the rates on the best three month, six month, one year, two year and five year CD rates, was unchanged from the previous week. The Selectcdrates.com weekly CD rate survey showed the average rate unaltered at 1.087 percent.
Among the five different CD maturities measured in the survey, the best three month CD rates, one year CD rates and two year CD rates showed no variation from the previous week. The six month CD rates squeaked out a very small gain in the average yield and the five year rates lost some ground.
The top ten three month CD rates reported no change week over week with an average rate of 0.483 percent. The best three month CD rate remains with Virtual Bank and Hudson City Savings Bank which offers the short term certificate at an interest rate of 0.60 percent. Beal Bank and UmbrellaBank.com play a distant second fiddle with three month CD rates that sound out at 0.51 percent.
Six month CD rates reported an increase over the week. The average rate for the top ten best six month CD rates inched up by a mere .4 basis points in the current survey, one basis point is equal to 1/100th of a percent. The average rate for the top six month rates got up to 0.77 percent from 0.766 percent in the previous rate survey. The highest six month rate continues to come from AloStar Bank of Commerce at 0.85 percent. The second best rate is also unchanged at 0.80 percent but can now be found at two different financial institutions instead of just one, as was the case in the prior week’s survey. Stonebridge Bank and Virtual Bank market currently market a six month CDs with an interest rate of 0.80 percent.
The one year certificates displayed no difference in the average rate from the week earlier. The average rate on the top ten highest one year CD rates was held at 1.053 percent. With a yield of 1.15 percent, the best one year CD rate continues to be the product of Doral Bank. Five basis points beneath the rate of Doral Bank is the one year certificate promoted by Beal Bank which has an interest rate of 1.10 percent. Just two basis points below this rate is the one year CD account of CIT Bank at 1.08 percent.
The top ten two year CD rates were stayed in the unchanged camp for the week. The average rate for the top ten best two year CD rates available nationally was held at 1.224 percent. The top three bank rates in this term remained the same with American Express Bank’s two year CD rate of 1.30 percent at the number one spot, CIT Bank’s two year CD rate of 1.26 percent and Ultima Bank Minnesota as well as CNBBankDirect taking the third spot with two year yields at 1.25 percent.
The five year term bank CDs lost some yield over the week. The average rate for the highest five year certificates dipped down to 1.903 percent from 1.908 percent in the prior week. State Bank of India holds out the best interest rate on this term with APY of 2.02 percent. The next best rate was unchanged from thee previous week with three banks offering a five year CD rate of 1.95 percent. Intervest National Bank’s CD, OnBank’s CD and Tennessee Commerce Bank’s five year CD all share the second best five year yield.
To find more information on the best CD rates by maturity for the January 23, 2012 CD rate survey please see the following CD rate tables at Selectcdrates.com: three month CD rates, six month CD rates, one year CD rates, two year CD rates and five year CD rates.
The best CD interest rates available were little changed over the past week. Based on the most recent survey of bank CD rates performed by Selectcdrates.com, the average CD rate gave up less than one basis point or 1/100th of a percent week over week. The average CD rate on the highest three month CDs, six month CDs, one year CDs, two year CDs and five year CDs was lower by just 0.002 percent putting the average rate in the index at 1.087 percent.
Bank CD rates had very little significant news pushing rates. The jobs report has already been digested, the concerns in Europe remain on the table and the U.S economy remains on a path of slow growth albeit, very slowly. The big news was the potential downgrade on sovereign debt in Europe but even that action is priced into most major markets including the credit markets and bank rates. Little news and consequently little changes in CD rates. Of the five CD terms measured in the weekly CD rate index only the one year and two year term CDs experienced a change in the average interest rate.
The best three month CD rates were unchanged from the prior the week. The average rate on the top ten highest three month certificates remained at 0.483 percent. The top CD rate with a three month maturity is 0.60 percent and is available at Hudson City Bank and Virtual Bank.
Six month CD rates were in the unchanged camp. The average rate for the top ten best six month CD rates held at 0.766 percent. The highest six month CD rate was also unchanged at 0.85 percent. The best six month rate comes from Virtual Bank. The second best six month yield is at Stonebridge Bank with a CD rate of 0.80 percent.
One year rates slipped ever so slightly. The rate coming from the best one year CD rates was down by less than one basis point, drifting lower by just 0.007 percent. The average rate on the top ten one year CD rates went from 1.060 percent in the previous survey to the 1.053 percent in this week’s rate survey. The highest one year CD rate was unaltered at 1.15 percent however only one bank, Doral Bank through Doral Bank Direct, offers the rate. CIT Bank reduced their one year CD rate to 1.08 percent which is the third highest rate with Beal Bank holding the second best rate after skipping above CIT Bank, with a one year CD yielding 1.10 percent.
Two year CD rates were the other category of CD rates showing at least some change in rates this week. The average rate on the top ten highest CD rates was cut back only marginally, just 0.004 percent. The average yield on the best two year CDs decreased to 1.224 percent from 1.228 percent in the week earlier. The highest two year rate did not move at 1.30 percent. In the previous week survey, American Express and CIT Bank were offering two year CD rates at 1.30 percent, this week only American Express has 1.30 percent two year. CIT Bank cut their rate back to 1.26 percent to hold the second best two year rate.
Five year CD rates held their ground for the week. The average rate on the best five year CDs in this week’s survey remained at 1.908 percent. The top rate comes from State Bank of India with a yield at 2.02 percent. Three banks are offering long term CDs seven basis points below the term leader. Intervest National Bank, OnBank and Tennessee Commerce Bank have rates unchanged from the prior week with an interest rate of 1.95 percent. Not great rates but well above the interest rates found on comparable term Treasury securities.
To find more information on the best CD rates by maturity for the January 16, 2012 CD rate survey please see the following CD rate tables at Selectcdrates.com: three month CD rates, six month CD rates, one year CD rates, two year CD rates and five year CD rates.
With the first full week of 2012 behind us, bank CD rates started up in the same direction they ended 2011, dropping down lower. The average bank CD rate in the Selectcdrates.com weekly CD rate survey slipped lower by one basis point or 1/100th of a percent. The average CD interest rate in the weekly survey dropped down to 1.089 percent from 1.099 percent
CD interest rates shrugged off the positive economic news displayed in the monthly employment report. The jobs report was released on Friday showed better than expected results with 200,000 new jobs formed in December. A good number or better than expected number is usually seen as a sign of better economic conditions. Positive job growth usually indicates an expanding economy which generally leads to higher interest rates, bank rates and CD rates. The bank CD rates changes we see are not earth shattering and the employment report is only one statistic that measures economic performance.
Three month CD rates had the second greatest drop in yield over the course of the week. The three month CD rate, based on the average rate for the top ten best bank CD rates available nationally, gave up 1.5 basis points. The average three month CD rate slid down to 0.483 percent from 0.498 percent in the previous week. Hudson City Savings Bank reduced their three month rate from 0.75 percent to 0.60 percent, forcing the average rate lower. The highest rate with a three month term still comes from Hudson City Bank but is also shared by Virtual Bank which also offers a three month CD rate at 0.60 percent. UmbrellaBank.com and Beal Bank are promoting the second highest rates at 0.51 percent.
Six month CD rates were down by less than one basis point. The average six month CD rate in this week’s survey fell to 0.766 percent from 0.771 percent in the earlier week’ rate survey. The top six month CD rate is the product of Virtual Bank with an interest rate of 0.85 percent. Five basis points lower is the six month CD marketed by Stonebridge Bank with a yield of 0.80 percent. The number three bank in the six month maturity category is AloStar Bank of Commerce which has a six month CD rate at 0.76 percent.
The average rate for the top one year CD rates was unchanged this week. The rate on the best one year CD rates held at 1.060 percent. The highest rate continues to come from Doral Bank Direct and CIT Bank with one year rates at 1.15 percent. Beal Bank remains close behind the two leaders with a one year CD rate of 1.10 percent. The next best one year CD rate is at 1.05 percent and is available at three different banks across the nation, State Bank of India, Nationwide Bank and CNBBankDirect all offer the one year maturity CDs at 1.05 percent.
The best two year CD rates dropped down by just under one basis point. The average rate for the top ten highest two year CD rates was 1.228 percent after holding steady in the previous week at 1.236 percent. The highest two year CD rate managed to remain unchanged from the earlier week at 1.30 percent. The top two year rate is available at American Express Bank and CIT Bank. Following the CD rates of Am Ex and CIT are the CDs at Ultima Bank and CNBBankDirect which both have two year CD rates yielding 1.25 percent. Virtual Bank has third highest two year certificate with a interest rate at 1.21 percent.
The five year term CDs experienced the largest rate change over the week. The average yield for the top ten five year CD rates plunged (plunge may be a bit harsh) to 1.908 percent from 1.930 percent in the week earlier. The best five year CD rate is still the product of State Bank of India in Chicago which offers the five year at 2.02 percent. Three banks have five year CDs with interest rates of 1.95 percent, the second highest yield. Intervest National Bank, OnBank and Tennessee Commerce Bank all have five year CDs with a1.95 yield. Nationwide takes third place with five year certificate that yields 1.90 percent.
To find more information on the best CD rates by maturity for the January 9, 2012 CD rate survey please see the following CD rate tables at Selectcdrates.com: three month CD rates, six month CD rates, one year CD rates, two year CD rates and five year CD rates.
There was no change in the best CD interest rates this week. The SelectCDrates.com index that measures the highest CD rates for the three month, six month, one year, two year and five year maturities remained at 1.099 percent for the last week of the year. The weekly CD rate survey showed that the composite index was unchanged from the prior week as were all five of the separate CD terms in the index.
The end of year week was a light trading week for the stock market and bond markets and was relatively lackluster in terms of economic news and data. These factors most likely were contributing factors to the lack of action in bank rates and CD rates. During times of market inactivity banks are also lees likely to altar the rates on bank products and take the risk that these rates will be change quickly when market volume returns to normal and may push or pull the general level interest rates higher or lower.
The average rate for the top ten highest three month CD rates available nationally remained at 0.498 percent. The highest rate with a three month term comes from Hudson City Bank which offers a three month CD rate at 0.75 percent. Virtual Bank follows a distant second place with a three month CD rate of 0.60 percent. The UmbrellaBank.com three month certificate continues to be the third highest at 0.51 percent.
The best six month CD rates are led by Virtual Bank and Stonebridge Bank. These two banks have six month CDs that yield 0.85 percent. AloStar Bank of Commerce is the next best bank rate and falls a fair bit lower at 0.76 percent. Alostar is followed by a slew of banks that offer six month CDs at 0.75 percent including One West Bank, Hudson City Bank, First Internet Bank, Discover Bank and more.
One year CD rates were also led by two banks offering the same yield. Doral Bank Direct and CIT Bank continue to lead the one year CD rate category with rates at 1.15 percent. Beal Bank has a one year CD at 1.10 percent to play second fiddle. The third highest one year CD rate can be found at a trio of banks with an interest rate of 1.05 percent. Included in the 1.05 percent trio is State Bank of India, Nationwide Bank and CNBBankDirect.
The average rate on the top ten best two year CD rates remained at 1.236 percent. This CD maturity is also led by two banks. The American Express Bank CD and CIT Bank CD are both promoted with yields at 1.30 percent, the market leaders. There are three banks running a close second with two year bank CD rates of 1.25 percent. The second place finishers at 1.25 percent are Ultima Bank Minnesota, Hudson City Bank and CNBBankDirect.
As with the other four CD maturities, the average rate for the top five year bank CDs was held in check over the week. The average rate for the five year term CD remained at 1.930 percent. The top five year CD rate is 2.02 percent and can be found at State Bank of India in Chicago. The next best five year is only two basis points lower, Hudson City Bank markets a five year at 2.00 percent, the second highest rate. Finishing the top three bank rates with a five year term is Intervest National Bank with a five year CD rate of 1.97 percent.
To find more information on the best CD rates by maturity please see the following CD rate tables at Selectcdrates.com: three month CD rates, six month CD rates, one year CD rates, two year CD rates and five year CD rates.
There is little to report regarding CD interest rate changes for the week ending December 23, 2011. Bank savings rates and CD rates seemed to be held in suspended animation as there were hardly any alterations in the top CD rates available nationally across most all bank CD terms.
The average CD rate measured by the Selectcdrates.com CD rate index was off by just .3 basis points; one basis point is equal to 1/100th of a percent. The CD rate index, which measures the highest three month CD rates through the highest five year CD rates, ended the week at 1.099 percent after closing out the previous week with an average rate of 1.102 percent.
There are five separate maturities evaluated in the weekly CD rate survey including, three month CDs, six month CDs, one year CDs, two year CDs and five year CDs. Of these five CD terms, only the five year certificates showed a change in the average rate. The three’s, six’s, one year and two year rates were all unchanged for the week.
The top three month CD rate continues to be dominated by Hudson City Bank. Hudson City Bank offers a three month CD rate at 0.75 percent or 15 basis points above the next best rate. With a yield of 0.60 percent, the next best three month CD rate is promoted by Virtual Bank. Rounding out the top three banks in the term is UmbrellaBank.com which markets a three month CD with an interest rate of 0.51 percent.
The highest six month CD rate is not much higher than the best three month rate. The best six month CD rate available nationally stands at 0.85 percent, ten basis points above the best three month CD rate. The top six month rate is available at two banks, both Virtual Bank and Stonebridge Bank offer two year rates at 0.85 percent. Almost ten basis points below the two leaders is the six month CD offered by AloStar Bank of Commerce which has this term CD at a yield of 0.76 percent.
CD rates with a one year term were unchanged among the top ten bank rates. The aver rage rate for the top ten one year CD rates held this week at 1.06 percent. The highest one year CD rate remains with two banks, Doral Bank Direct and CIT Bank. Both of these banks offer one year CDs that have interest rates at 1.15 percent. Beal Bank follows these two institutions with a one year CD that has a yield of 1.10 percent.
Two year CD rates were also among the unmoved rates this week. The average rate on the highest two year term CDs remains at 1.236 percent. The top two year CD rate is available at 1.30 percent. CIT Bank and American Express Bank are promoting CDs with two year maturities that have rates of 1.30 percent. Five basis points lower at 1.25 percent is the next best two year yield. Three banks have a two year CD at 1.25 percent, including Ultima Bank of Minnesota, Hudson City Bank and CNBBankDirect.
The five year rates did change in this week’s rate survey. The average rate on the top ten highest five year CD rates dipped down to 1.930 percent from 1.945 percent in the prior week. The highest rate was unchanged at 2.02 percent. The 2.02 yield can be found at State Bank of India Chicago office which offers the CD by mail. Hudson City Bank is running a close second with a five year CD that yields 2.00 percent. The third highest rate comes from Intervest National Bank where a five year CD can be obtained with an interest rate just under 2.00 percent at 1.97 percent.
To find more information on the best CD rates by maturity please see the following CD rate tables at Selectcdrates.com: three month CD rates, six month CD rates, one year CD rates, two year CD rates and five year CD rates.
CD interest rates endured a minor dip for the week ending December 2, 2011. The average CD interest rate as measured by the Selectcdrates.com weekly CD rate index turned lower by less than half of one basis point for the week. A one basis point change is equal to 1/100th of a percent. The Selectcdrates.com CD rate index shifted down to 1.115 percent from 1.119 percent in the prior week. The Selectcdrates.com weekly CD rate index measures the top ten bank CD rates for three month CDs, six month CDs, one year CDs, two year CDs and five year CDs.
Stock and bond markets have continued to digest the illusory European solutions to their banking and sovereign debt problems which is keeping a money in Treasuries thereby keeping a lid on Treasury rates and bank rates. With no real expectations that a measurable solution can arise in Europe, growth in Europe next to nothing and China apparently slowing, the prospect for growth and inflation driven higher interest rates is not going to materialize anytime soon. I don’t think that is grammatically correct, but it is factually accurate.
The biggest rate drop this week was seen in the one year maturity bank CDs. The average rate for the top ten highest one year CD rates slipped by 1.2 basis points, falling to an average yield of 1.078 percent. The highest rate in the one year term category remained unchanged for the week. The top one year CD rate remains at 1.15 percent and is available at both, Doral Bank Direct and CIT Bank. The next best rate for the one year certificate follows quite a bit behind at 1.10 percent. The second highest rate is also available at two banks; Sallie Mae Bank and Beal Bank hold the second best rates with CDs yielding 1.10 percent.
Dropping almost as much as the one year CDs was the six month term CDs. The average six month CD rate gave up precisely one basis point over a period of a week. The average six month CD rate rested at 0.781 percent after starting the week with a CD yield of 0.791 percent. The best six month CD rate was also unchanged this week at 0.85 percent however; the number of banks offering that rate has been cut back. Three banks now offer the highest six month rate of 0.85 percent including, Stonebridge Bank, Virtual Bank and One West Bank.
Both, the three month CD rates and the two year CD rates experienced equal reductions this week. The average rate on these two CD terms is different but both maturities were lower by .5 basis points. The three month rate dipped to 0.513 percent from 0.518 percent in the week earlier and the two year decreased to 1.251 percent from 1.256 percent in the previous week.
The best three month CD rate is the same as the old leader. The Hudson City Savings CD rate for a three month term has been in the top spot throughout this quarter. Hudson City continues to promote a three month CD rate of 0.75 percent, 15 basis point above the next best rate of 0.60 percent which can be found at Virtual Bank and One West Bank.
Two year CD rates were led by CIT Bank and American Express Bank. These two banks have two year CDs with interest rates at 1.30 percent. Running close behind is the two year CD of Transportation Alliance Bank or TAB which has a two year CD rate at 1.26 percent.
The final maturity included in the CD rate survey is the five year term. Five year CD rates were unchanged on the week. The average rate for the top ten highest five year CDs held at 1.951 percent. State Bank of India leads the pack with a five year CD rate of 2.02 percent. Hudson City Bank offers a five year CD with an interest rate of 2.00 percent or just two basis points lower. Rounding out the top three five year CD rates is the five year from Intervest National Bank which promotes this term CD with a yield of 1.99 percent.
To find more information on the best CD rates by maturity please see the following CD rate tables at Selectcdrates.com: three month CD rates, six month CD rates, one year CD rates, two year CD rates and five year CD rates.
CD investors and savers had to endure some more pain over the past week as CD interest rates moved lower one more time this year. The average bank CD rate as measured by the Selectcdrates.com CD rate index was lower by just over one basis point. The average CD rate, per the CD rate index, dipped down to 1.128 percent from 1.139 percent in the previous week. The Selectcdrates.com CD rate index measures the top ten highest CD rates available nationally for three month CDs, six month CDs, one year CDs, two year CDs and five year CDs.
The drop in CD rates was not terribly surprising coming on the heels of near record lows in mortgage rates and Treasury rates. During the week, the ten year Treasury rate slipped below 2.00 percent for the first time in November. While the ten year Treasury bond moved lower, the six month and one year Treasuries were held in check at astonishingly low levels. The six month Treasury rate ended the week at a mere 0.04 percent while the one year closed the week at 0.12 percent. Since these investment options are considered the safest investment choices, it is not surprising that these low rates of return are putting pressure on the near equally safe yields of bank CDs.
Short term CD rates moved very little this week. The average rate for the best three month CD rates held steady at 0.527 percent. The top three month CD rates have displayed no change in rate over the past two months. The highest three month CD rate is available at Hudson City Savings Bank with an interest rate of 0.75 percent. The second best rate is available at two banks at a significantly reduced rate. Both, Virtual Bank and One West Bank have the next best rates by offering three month CDs that yields 0.60 percent with a three month CD also at 0.60 percent.
Six month CD rates also showed no change in rate this week. The average rate for the top ten best six month CDs remained at 0.806 percent. The top banks in this category were unchanged from the prior week with AloStar Bank promoting the highest six month CD rate at 0.86 percent. The next best six month CD rate comes from fours bank just one basis point off the highest rate. Stonebridge Bank, Virtual Bank, Ascencia Bank and One West Bank market six month CDs with interest rates at 0.85 percent, the second highest arte available nationally.
The best one year CD rates showed little change among the highest rates but the average rate for the top ten best one year CD rates did move lower on the week. The average rate for the top ten best one year CD rates declined by one basis point to 1.087 percent, from 1.097 percent in the week earlier. The best one year rate is available at two banks; Doral Bank Direct and CIT Bank share the lead with CDs that yield 1.15 percent. AloStar Bank has a one year CD three basis points beneath the top rate at 1.12 percent.
The top two year CD rates experienced only a minor reduction in the average rate. The average rate for the highest two year CD rates ended this week at 1.268 percent which is just fractionally lower than last week’s rate of 1.273 percent. The slight change had no impact on the highest rate and the banks that are offering that rate. The best two year rate remains at 1.30 percent and is currently being marketed by four banks; Ultima Bank of Minnesota, American Express Bank, CIT Bank and AloStar Bank of Commerce.
The five year CD rates ate most of the losses in yield this week. The average rate for the top ten highest five year bank CDs was cut back by over four basis points. The average rate skidded down to 1.951 percent from 1.992 percent in the prior weekly rate survey. State Bank of India holds the top spot with a five year CD yielding 2.02 percent. Hudson City Savings Bank comes in second with a five year CD yielding 2.00 percent. The third highest five year CD rate is just one basis point lower at 1.99 percent and is promoted by Intervest National Bank.
To find more information on the best CD rates by maturity please see the following CD rate tables at Selectcdrates.com: three month CD rates, six month CD rates, one year CD rates, two year CD rates and five year CD rates.
CD interested rates were essentially flat for the week ending November 11, 2011. The top CD rates available nationally were unchanged on the very short end of the CD rate curve as well on the midterm range; however rates moved ever-so-slightly higher on the long end of the curve.
The interest rate movements in bank CD rates matched that rate changes found in the Treasury market. The shortened week with the Veterans Day Holiday ended with Treasury rates little changed from the start of the week. Six month Treasury rates ended the week one basis point or 1/100th of a percent higher than where they started with a yield of 0.04 percent. The one year Treasury rates reversed that movement and closed down one basis point at 0.10 percent. The five year Treasury yield was two basis points ahead of the previous week with an interest rate at 0.90 percent.
By reviewing the current changes in Treasury rates you can see that the Treasury rates did in fact remain quite stable similar to the yields in bank CDs, but they also offer interest rates that are significantly lower than those that are available with bank CDs. You may not like the current yields but CD rates remain well above the rates found on U.S. Treasuries.
The best national CD interest rates, on average, held firm this past week. The average rate for the top ten bank CD rates with a three month term, six month term, one year term, two year term and five year term was unchanged at 1.139 percent.
The top three month bank CD rates ended the week unchanged with the average yield holding at 0.527 percent. The three banks that offer the highest three month CD rates have not changed their rates since the first week of October. The best three month CD rates continue to be the products from Hudson City Savings Bank at 0.75 percent, Virtual Bank at 0.60 percent and One West Bank with a three month CD also at 0.60 percent.
The average rate for the best six month CD rates ended down marginally. The average six month rate closed at 0.806 percent, less than one basis point lower than last week’s average rate of 0.812 percent. AloStar Bank’s six month CD rates of 0.86 percent, remains the highest six month CD rate on the market. The second best rate is also unaltered week over week, with four banks offering a rate just one basis point below that of AloStar Bank. Stonebridge Bank, Virtual Bank, Ascencia Bank and One West Bank have six month CDs with interest rates at 0.85 percent.
One year CD rates had a very slim gain in yield as the week came to a close. The average rate for the top ten highest one year CD rates was 1.097 percent, compared to 1.095 percent in the prior week. The best one year CD rate is available with a yield of 1.15 percent. The top rate can be found at three banks including; CIT Bank, Doral Bank Direct and Popular Community Bank. AloStar Bank markets the next best one year CD rate at 1.12 percent.
Two year CD rates were also undisturbed over the period of a week. The average rate for the best two year CD rates remained at 1.273 percent. The top two year CD rate was unchanged along with the average. The highest rate held at 1.30 percent and is promoted by four banks, the same banks from the previous CD rate survey. Ultima Bank of Minnesota, American Express Bank, CIT Bank and AloStar Bank of Commerce all offer two year CD with interest rates at 1.30 percent. Pacific Mercantile Bank runs a close second with a two year CD rate at 1.28 percent.
The average rate for the top ten highest five year CD rates was boosted by a smidgen this week. The average five year CD rate increased to 1.992 percent from 1.987 percent in the week earlier. The rise in the average rate was almost entirely due to the five year CD available at iGOBanking which boosted their five year term CD to rate of 2.25 percent. This rate is measurably higher that the next best competitor, State Bank of India which has a five year CD that yields 2.02 percent. Two basis points behind State Bank of India are the bank CDs from Hudson City Savings Bank and Intervest National Bank with five year rates at 2.00 percent.
To find more information on the best CD rates by maturity please see the following CD rate tables at Selectcdrates.com: three month CD rates, six month CD rates, one year CD rates, two year CD rates and five year CD rates.
Once again, CD interested rates have declined very slightly. Market reaction to the recurring disturbances over European government debt levels has driven interest rates lower once again. Most of the deterioration in CD rates was seen in the longer term banks CDs with the short term CDs holding relatively stable.
Overall, CD interest rates were reduced by just under two basis points or 2/100’s of a percent for the week ending November 4, 2011 as measured by the Selectcdrates.com CD rates index. The Selectcdrates.com CD rates index measures the top ten highest CD rates for three month term CDs, six month CDs, one year CDs, two year CD and five year CDs. The CD rate index dipped down to 1.139 percent this week from a level of 1.158 percent in the previous week.
The average rate for the top three month bank CDs was left unchanged. The best three month CD rates have been a stand out recently by simply holding steady. With an average rate of 0.527 percent, the average rate on three month CDs has not changed in over four weeks. The best three month CD rate continues to come from Hudson City Savings Bank with a yield at 0.75 percent. Virtual Bank 3 month CD and One West Bank’s 3 month CD remain unchanged in second place with yields at 0.60 percent.
Six month CD rates took a haircut of 1.5 basis points. The average rate for the top ten best six month CDs dipped to 0.812 percent from 0.827 percent in the previous week. The top rate was unaltered with the AloStar Bank six month CD holding at of 0.86 percent. The next best six month CD rate is just one basis point lower from the leading rate and is available at multiple banks. Four banks offer six month CDs this week with yields at 0.85 percent. The four banks providing the second best yield in the six month term are Ascencia Bank, One West Bank, Virtual Bank and Stonebridge Bank.
The best one year CD rates showed no change with the average rate holding at 1.095 percent. While the average rate was unchanged, there was new bank competing for the highest rate with a one year maturity. Popular Community Bank is now offering a one year CD rate of 1.15 percent which matches the rate of Doral Bank Direct making both banks the issuers of the highest one year CD rates. Following these two banks is CIT Bank which promotes a one year CD with an interest rate of 1.13 percent or just two basis points lower.
The two year CDs experienced a rate gain this past week. The average rate for the top ten highest two year bank CD rates climbed by less than one basis point. The rate increases put the average yield at 1.273 percent from 1.266 percent in the week earlier. The highest two year CD rate is 1.30 percent. The top rate is available at four banks, including; Ultima Bank of Minnesota, American Express Bank, CIT Bank and AloStar Bank of Commerce.
The big letdown for the week was on the long end of the CD yield curve. Five year CD rates weakened by over five basis points, putting the average rate under 2.00 percent. The average five year CD rate came down to 1.987 percent by the time the week came to a close. The term leader in the two year category is Nationwide Bank which markets a five year CD rate of 2.05 percent. Not far behind is State Bank of India where a five year CD can be obtained with a yield of 2.02 percent. Discover Bank, First Internet Bank, Hudson City Bank and Intervest National Bank all follow with five year CDs at 2.00 percent.
To find more information on the best CD rates by maturity please see the following CD rate tables at Selectcdrates.com: three month CD rates, six month CD rates, one year CD rates, two year CD rates and five year CD rates.