Even with increased volatility in emerging markets and slumping bond prices, the top bank CD rates weathered the storm and held steady going into the final full week of August.  Stock markets, commodity markets, and foreign exchange markets took a tumble in the third week of August as uncertainty over the stability of emerging markets rocked the market.  The turbulence in a number of different asset classes fortunately, had little impact on the top bank CD rates. 

The average rate on the highest yielding bank certificates of deposit available nationally barely budged for the week ending August 21, based on the most recent survey of bank CD rates conducted by SelectCDrates.com.  The SelectCDrates.com CD rate indexed inched higher by just 1/1000th of a percent for the week to end at 1.221 percent.

The SelectCDrates.com index measures the top ten highest CD rates available nationwide on three month term CDs, six month term CDs, one year CDs, two year CDs, and five years CDs. 

Of the five different CD maturities measured in the survey, only two of those maturities experienced a rate change.  The best one year CD rates and the best two year CD rates showed activity on the week while the three’s, six’s and five years held firm. 

One year CD rates ticked higher by 1/1000th of a percent to an average rate of 1.228 percent at week’s end while the highest yielding two year certificates were up by 5/1000ths of a percent to close out the week at 1.395 percent.

The three month certificates were unchanged on the week with the average yield for the top ten highest short term CD accounts remaining at 0.446 percent.  Six month CD rates were unaltered with average rate of return of 0.830 percent.  And the long term, five year maturities were unmoved on the week with an average yield of 2.207 percent.  

Prior to the recent volatility in the stock market and foreign markets, the Fed had been expected to finally begin raising rates in either September or December.  The turbulence in markets and uncertainly that comes with may postpone that decision and the markets may not see a rate increase until the start of 2016.

Additional rate information on the best CD rates available for consumers based on the most recent bank rate survey for the week ending August 21, 2015 can be found at the following interest rate tables: three month CD ratessix month CD ratesnine month CD rates, one year CD rates, two year CD rates, three year CD rates, four year CD rates and five year CD rates.

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