The best CD rates in Texas edged up rather measurably for the week ending October 16, 2009. All bank CD maturities rose on average for the best CD rates in the state.
The average of the best six month CD rates in Texas increased by eight basis points or 8/100 of a percent. The average CD interest rate for a six month term CD moved up from 1.97% to 2.05% at the close of the week. The best six month CD rate is an odd term CD promoted by First State Bank. First State Bank markets a seven month CD that has an interest rate of 2.27%.
One year CD rates in Texas also moved higher for the week. The average of the best one year CD rates rose eight basis points as well, pushing the average yield from 2.22% to 2.30%. The best one year CD rate comes from Plains State Bank which offers an interest rate of 2.52%. Carmine State Bank follows with a one year CD rate of 2.32%.
The best two year CD rates in Texas gained ten basis points for the week. The average of the best two year CD rates in Texas stood at 2.65%. First State Bank’s whopping 19 month CD promotional offer dwarfed the competition and brought the average up. First State Bank is offering a 19 month promotional CD that has an interest rate of 3.03%. Not too far behind that offer is a two year CD from First National Bank that has a rate of 2.78%.
Five year CD rates in Texas moved up by a modest amount. The average of the best five year CD rates in Texas climbed one basis point pushing the average yield up to 3.39%. The best five year CD rate in Texas is produced by two banks. First National Bank of Port Lavaca and Citibank both offer five year CD rates at 3.50%.
The best CD interest rates in Texas have moved up measurably higher to surpass the best national bank CD rates. A number of the highest CD rates do come from more rural community banks, but the list does have a number of banks in the major metropolitan areas of Texas and some banks that have may have had CD rates high enough to make the list were excluded because their location was simply too far off the beaten path.
CD rates in Texas increased for the week ending September 18, 2009. Texas CD rates were higher for all terms by week end with the greatest rate increases occurring in the one and two year term bank CDs.
The average of the best six month CD rates in Texas ended the week up two basis points or 2/100 of a percent with an average rate of 2.08%. The best six month CD rate comes from First State Bank which offers a promotional seven month CD with an interest rate of 2.27%.
One year CD rates in Texas pushed ahead eight basis points. The average of the best one year CD rates closed the week at 2.34% from 2.26% in the previous week. Plains State Bank has the highest rate in this term with an eleven month CD that yields 2.55%.
The best two year CD rates in the Lone Star state jumped by eleven basis points at week’s end. The average of the best two year CD rates was at 2.72%, an increase from the prior week’s average of 2.61%. Icon Bank offers a two year CD rate at 3.04% which leads the state.
Five year CD rates didn’t disappoint and moved higher as well. The average for the best five year CD rates in Texas stood at 3.39% and increase of two basis points from the previous week’s close of 3.37%. Green Bank and First National Bank of Port Lavaca both offer five year CD rates at 3.50% to top the list.
With the exception of the five year term, all of the best CD rates in Texas are exceeding the national averages. Shop the best national averages as a reference point, but for residents of Texas there is a definite rate advantage with hometown banks.
Texas CD rates moved within a narrow range for the week. The best six month CD rates in Texas gained some ground, the one year and two year term CD rates dropped in yield and the five year CD rate was unmoved. The change in CD interest rates moved in the opposing direction of the national bank CD rates which were down for the week on the six month and two year term while remaining unchanged on the one year and five year terms.
The average of the best six month CD rates in Texas gained three basis points or 3/100 of a percent to end the week at 2.06%. The average for the best one year CD rates dropped six basis points moving from 2.29% to 2.26% to close the week. The two year term CDs were also down by six basis points for the week, bringing the average interest rate down to 2.61%. The five year CD rates in Texas held firm with no change week over week with a yield of 3.36%.
The leader in the six month CD rate category was First State Bank which offers an odd term, seven month CD with an interest rate of 2.27%. The best one year CD rate is promoted by Central National Bank with an extended term, 17 month CD that yields 2.40%. In the two year CD rate category for the state of Texas the best bank rate comes from First State Bank with a 19 month CD rate at 3.03%. The best five year CD rate in Texas comes from three separate banks including Citibank, Green Bank and the First National Bank of Port Lavaca.
Short term CD rates in Texas gained some yield for the week while the longer term CD yields lost a little ground. The average yield for the best six month CD rates in Texas gained five basis points or 5/100 of a percent to end the week at 2.36%. The one year CD rate average remained constant, holding at 2.52% for the week. The best two year CD rates in Texas fell to 2.63%, off by three basis points from last week’s level. The weekly survey of five year CD yields in Texas shows the average yield also falling by three basis points to close the week at 3.43%.
In the six month CD rate category, Texas CD rates are well ahead of the national rates and most all other state and regional CD rates. At the present time, the lowest six month CD rate on the list has a yield above even the best national rate. The leader in this group is a special promotion from American First National Bank. American First National Bank offers an interest rate of 2.85% on a six to 12 month CD that is opened in their new bank branch in Houston only.
The one year CD rates in Texas follow the lead of the six month rates. The top bank rates in Texas with a one year term surpass all but the best national rate. Once again, the leader in Texas with a one year term is American First National Bank with the same offer that applies for the six month CD. The bank CD earns 2.85% and must be opened in their new Houston bank branch. Fayetteville Bank has a one year CD rate lower by another ten basis points at 2.63%. The low rate on the list is at 2.50% and is available at more than one Texas bank including United Central Bank.
Texas CD rates with a two year term fall within a more limited range than the shorter term CDs. The highest two year CD rate can be found at Texas Security Bank with an interest rate of 2.75%. Just two basis points below that rate is the two year CD of Collin Bank which yields 2.73%.
Longer term CDs in Texas are the least competitive of the available maturities. The best five year CD rates fall behind the best national rates but remain competitive relative to other regional and state CD rate averages. The highest five year CD rate in Texas is at 3.50% and is available at Green Bank, La Jolla Bank as well as First National Bank in Port Lavaca. Access 1st Capital is close behind with a five year term CD with a rate of 3.45%.
Texas CD rates were down on all terms for the week with the exclusion of the six month term rates. The average of the best six month CD rates in Texas moved in the opposite direction with a vengeance climbing by 12 basis points or 12/100 of a percent to 2.30%. The best six month CD rate is available at Wilshire State Bank with an interest rate of 2.52%. This rate can be obtained either in person at the one bank branch location in Dallas or online. Access 1st Capital holds the next best rate on a nine month term that yields 2.45%.
With the reduction in the best national rates with a one year term, Texas CD rates in this term category are mostly outpacing the best national rates offered. The highest one year CD rate is marketed by Collin Bank with an interest rate of 2.58%. Mutual Bank continues to offer their promotional 16 month CD with a rate of 2.56% to make the list of the best rates. Wilshire State Bank rounds out the top three banks with a one year CD rate of 2.52%.
The best two year CD rates in Texas unfortunately, continue to trail the best national rates. The highest two year CD rates in Texas stands at 2.75%, that two year CD rate is a product of Texas Security Bank and lags the best national rate by 12 basis points. Two basis points below that rate is Collins Bank’s two year CD with an interest rate of 2.73%. Mutual Bank follows this with a two year CD that earns a rate of 2.69%.
The five year CDs are the real lemons in the bunch. The best five year CD rate in Texas is at 3.50% and is available at several Texas banks including; Green Bank, Northstar Bank of Texas, La Jolla Bank and First National Bank of Port Lavaca. This rate is well below the best national rate offered by a few banks at 3.65%. With most investors keeping their finger off of the trigger when it comes to buying five year CDs, evaluating the competitive position on these bank rates is mostly a pointless task. Fear of future rising rates and inflation is steering most CD investors away from the longer term products and into shorter term bank CDs.
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.
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 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.
For the week ending May 8, 2009 the best CD rates in Texas gained some ground and now surpass the best national rates for all terms with the exception of the two year CD. Last week the best six month CD rate in Texas was crushing the best national rates. This week the difference between the best six month CD rate in Texas and the national rates widened even further. The top rate in the six month category is the seven month promotional CD offered by State Bank of Jewett with an interest rate of 2.86%. The State Bank of Jewett is a division of Alliance Bank Central Texas and is based in Jewett, Texas. The previous leader in this term, American First National Bank, has been bounced to second position but still offers a six month CD rate that is well above the national rate at 2.64%. Wilshire State Bank has dropped the rate on their six month CD rate to 2.52% but it to continues to outdo the best national rate and is the third best six month CD rate in Texas.
The State Bank of Jewett is running a 13 month promotional CD rate that dominates local and national rates in the one year CD term category. This certificate of deposit is being promoted with an interest rate of 2.98%. Last week’s leader, American First National Bank, drops to a distant second place with a one year CD rate of 2.64%. Two basis points lower is the one year CD of Mutual Bank which offers the CD at 2.62%. Wilshire Bank follows with a one year CD that earns a rate of 2.52%. Two banks, United Central Bank and Southwestern National Bank, share last place on the list with one year CD rates of 2.50%.
The two year CD rate category is one term in which the state and regional banks are not keeping pace with the best national rates. The best two year CD rate has declined by seven basis points and is now being offered by The State Bank of Jewett with a rate of 2.78%. Mutual Bank’s two year CD rate is only two basis points lower and stands at 2.76%. Not far behind is Texas Security Bank’s two year CD that has an interest rate of 2.75%. Southwestern National Bank and NexBank share the next best rate with two year CDs that yield 2.70%.
The best five year CD rates in Texas were mostly unchanged for the week. Though the best national rates increased with Discover Bank offer of a five year CD at 3.70%, the top Texas five year CD rate still surpasses this rate but by just one basis point. Access 1st Capital Bank continues to promote their five year CD that has a rate of 3.71% to take the top spot. The second best five year CD rates are offered by Northstar Bank of Texas and Green Bank at 3.50%. Mutual Bank follows with a five year CD rate at 3.34%. Texas Bank and Equity finish up the best five year CD rates with rates at 3.20% and 3.19%.
Bank CD rates in Texas were a mixed bag for the week ending May 1, 2009. The very short term, six month CD rates, in Texas continue to crush the best national CD rates. The remainder of the terms are falling slightly behind with the exception of one five year CD rate offer.
For six month CD rates, all but one of the bank rates exceeds the national rates. The best six month CD rate is being promoted by American First National Bank with an interest rate of 2.64%, well above most banks. Wilshire State Bank with a six month CD rate of 2.53% has fallen to second position. Access 1st Capital Bank follows with a nine month term CD that has a rate of 2.45%. Five basis point lower is the seven month promotional CD of Northstar Bank of Texas with a rate of 2.40%. Sate Bank of Jewett pops up on the list with a seven month CD that earns a rate of 2.31%.
The best one year CD rate in Texas increased by two basis points or 2/100 of a percent. Alas, the best national rates increased by more and the best national rate of GMAC Bank now surpasses the bank rates in Texas. The highest one year CD rate in Texas stands at 2.64% and is a product of American First National Bank. A mere one basis point back is an odd term CD that mature in 13 months offered by Sate Bank of Jewett and has an interest rate of 2.63%. A jump down is the one year CD offered by Wilshire State Bank that yields 2.53%. Southwestern National Bank comes up next with a one year CD rate of 2.50%.
The best two year CD rate in Texas jumped up five basis points yet is still eclipsed by the top national rate. NexBank now owns the top spot for a two year CD with an interest rate of 2.85%. Sate Bank of Jewett has taken the second spot with a two year CD that earns a rate of 2.78%. Following this rate by two basis points is the two year CD of Mutual Bank with a rate of 2.76%. Southwestern National Bank is not far behind with a CD rate of 2.70%. United Central Bank and Round Top State Bank round out the list with identical CD rates of 2.60%, United’s is on a two year while Round Top offers the rate on a 30 month term.
Access 1st Capital Bank remains unseated as the best five year CD rate in Texas and does in fact handily beat the best national five year CD rates with a rate of 3.71%. Green Bank remains in second position again but has company this week with Northstar Bank of Texas as both offer five year CDs that yield 3.50%. Mutual Bank also keeps its position with a rate of 3.34%. Texas Bank’s five year CD with an interest rate of 3.25% comes up next. Equity Bank concludes the list with a five year CD rate at 3.20%.