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The Best CD Rates in Texas for June 5, 2009

admin — Tue, 09 Jun 2009 23:28:51 +0000

CD rates in Texas were little changed for the week of June 5, 2009. The average for the best six month CD rates was unchanged at 2.32%. The average for the best one year CD rates rose by one basis point or 1/100 of a percent to 2.52%. The average for the two year CD terms dropped slightly to 2.66% from 2.68%. Five year CD rates increased by the largest margin, on average, by rising seven basis points to 3.46% for the week.

The short term, six month CD rates are the sweet spot for bank rates in Texas. With the trend of lower rates in the past several weeks combined with higher Treasury rates, staying in the shorter term bank rates is an advisable position. Fortunately for Texas residents there is a plethora of bank CDs with above average rates to choose from. The highest CD rate in this term comes from Wilshire State Bank with an interest rate of 2.52%. The next best rate falls to 2.45% and can be found at Access 1st Capital Bank on a longer, nine month term CD.

The best one year CD rates in Texas are lagging the best national rates. The highest one year CD rate is marketed by Collin Bank with an interest rate of 2.58%. Two basis points lower, is the 16 month CD of Mutual Bank with a rate of 2.56%. Just under this rate is a one year CD from Wilshire State Bank that yields 2.52%.

The two year CD rates of Texas are trailing the national rates by an appreciable margin. The best two year CD rate is at Texas Security Bank with an interest rate 2.75%. This bank CD rate is 12 basis points behind the highest national rate. Collin Bank’s two year CD is another three basis points lower than Texas Security’s at 2.73%. Mutual Bank’ two year CD rate follows at 2.69%.

The best five year CD rates in Texas are also lagging the top national rates. The highest five year CD rate is unchanged at 3.50% and can be found at four different financial institutions including, First national Bank in Port Lavaca, Green Bank, Northstar Bank of Texas and La Jolla Bank.

CD Rates in Texas for the week ending May 29, 2009

admin — Tue, 02 Jun 2009 00:01:00 +0000

Texas certificate of deposit rates barely budged for the week ending May 29, 2009. The best six month CD rate continues to be produced by Wilshire Sate Bank with a rate at 2.52%. The average of the best six month CD rates in Texas managed to inch out a gain and crept up slightly to 2.32% from 2.31%. As low as the offers may first appear to be, all of the highest six month CD rates in Texas are above the best national rate of 2.20%.

The best one year CD rates in Texas were unchanged and lag the best national rates by a sizable margin. The highest CD rate available nationally with a one year term comes from Ally Bank with an interest rate of 2.80%, the highest rate in Texas is at 2.58% and can be found at Collin Bank. The remaining bank rates in this term remain close with Mutual Bank offering a one year CD rate of 2.56%, Wilshire State Bank at 2.52% and United Central Bank marketing a one year CD with an interest rate of 2.50%.

The average of the best two year CD rates moved up from 2.67% to 2.68%, however the top rate remained steady at 2.75%. The highest rate comes from Texas Security Bank but is ten basis points or 10/100 of a percent behind the best national rate of 2.85%. Collin Bank and Commercial National Bank also offer two year CD rates within spitting distant of Texas Security Bank with rates at 2.73% and 2.70% respectively.

The five year CD rates in Texas are fairly anemic yet gained two basis points for the week on average. The best five year a CD rate is at 3.50% and is available from Green Bank as well as Northstar Bank of Texas. The spread for the best bank rates for this term remains fairly wide with the lowest rate coming from La Jolla Bank at 3.25%.

The Best CD Rates in Texas for the week of May 22, 2009

admin — Thu, 28 May 2009 00:46:54 +0000

The best CD rates in Texas were a mixed bag for the week with the six month CD rates and one year CD rates producing better yields while the two year CD rates remained unchanged and the best five year CD rates dropping marginally. While longer term CD rates on the national lists have been slowly creeping up, most CD rates in Texas have been bucking this trend and have been slowly moving lower.

The highest six month CD rate is a true stand out with Wilshire State Bank offering a six month CD rate of 2.52%, well above the best national rates. The highest one year CD rate gained ground but remains below the best national rates. The top bank rate for this term in Texas is the product of Collin Bank with a one year CD that earns a rate of 2.58%. The highest two year CD rate remains with Texas Security Bank at 2.75% only two basis points or 2/200 of a percent lower is the two year CD of Collin Bank with a rate of 2.73%. With the reduction in last weeks five year CD rate leader of Access 1st Capital Bank to 3.45%, the best five year CD rate in Texas dropped to 3.50%. Five year CD rates of 3.50% are available at Green Bank as well as Northstar Bank of Texas.