The average of the best six month CD rates was down three basis points or 3/100 of a percent for the week ending June 26, 2009.  The average of the top ten six month CD rates shifted down from 1.96% to 1.93% on the week.  A number of banks with a six month term trimmed their rates over the past week however; the highest six month CD rate persevered with a rate of 2.05%. 

The best six month CD rate at 2.05% is available at FirstFedDirect, the same as the previous week.  Two banks are a rather significant five basis points lower with yields at 2.00%.  La Jolla Bank and UFB Direct both offer six month CDs at 2.00%.  Wilshire State Bank, which just assumed all of the deposits of Mirae Bank after Mirae was closed by the California Department of Financial Institutions, follows with a six month CD rate of 1.96%.  Palladian Private Bank’s six month CD is one basis point lower at 1.95%.  Corus Bank is the last bank in the top ten to offer rates at or above 1.90% with a rate right at 1.90%.

Four banks on the top ten list of six month CD rates are offering rates at 1.85% or 1.86%.  Ascencia and AIG Bank are at 1.86% while Ally Bank and NewDominion are just hanging on the top ten with interest rates of 1.85%.

Many state and regional CD rates with short maturities have also been cut down this week.  However, as the national rates move lower the gap is widening between many promotional bank rate offers that are available only within regions and the national bank CD rates.

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