Six Month CD Rates October 29, 2009

The average of the best six month CD rates available nationally dropped for the week ending October 29, 2009.  The average yield of the top ten bank rates with a six month maturity was down by two basis points or 2/100 of a percent for the week bringing the average rate down to 1.57% from the previous week’s average of 1.59%. 

The best six month CD rate is promoted by Ascencia Bank with an interest rate of 1.76%.  This rate is unchanged from the prior week.  Following Ascencia is the six month CD of NewDominion Bank.  NewDominion’six month CD has an interest rate of 1.62%, a rather sizeable drop off from the rate leader.  Nexity Bank held the second best CD rate in the previous week but has since reduced their rate to 1.51%.

Two basis points behind NewDominion Bank are the six month CDs marketed by FirstFed Direct and The Palladian Private Bank.  Both of these banks have six month CD rates at 1.60% to hold the third highest six month CD rates available.  Two more banks, La Jolla Bank and MetLife Bank have rates five basis points lower.  These two banks promote six month CDs that yield 1.55%. 

Rounding out the top ten best six month CD rates is Pacific Mercantile Bank which offers a six month CD rate of 1.52% and Nexity Bank, Wilshire State Bank and Giant Bank which all have six month CDs with interest rates of 1.51%.

Though the average of the top ten best six month CD rates experienced a moderate change week over week, the majority of the bank rates were unaltered for the week.  In fact, only one bank, Nexity Bank, reduced their CD interest rate from the previous week.  Nine bank rates remained unchanged.

Tags: bank rates, Banks, best CD rate, best six month CD rates, CD interest rate, CD rates, interest rates, rates, six month CD rates

This entry was posted on Monday, November 2nd, 2009 at 11:07 pm and is filed under 6 Month CD Rate Updates. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.