The best CD rates in Michigan increased slightly on average with the gains mostly in the bottom of the rate tables with the highest CD rates for each term reaming unchanged.  The best six month CD rate was unchanged at 2.30% and is promoted by New Liberty Bank.  Peoples State Bank follows with a seven month CD that yields 2.25%.  The average for the best bank rates with a six month term remained at 2.13% for the week.

The best one year CD rates were little changed with the top rate remaining at Northpointe Bank at 2.50%.  The next best one year CD rate is at 2.39% and is available at Gogebic Range Bank and First National Bank of Wakefield.  The average rate for one year CDs in Michigan stands at 2.34%.

Two year CD rates in Michigan continued the pattern of limited activity.  The best two year CD rate is an extended 30 month term from Edgewater Bank that has an interest rate of 3.10%.  Following this rate is the two year CD of Northpointe Bank that has an interest rate of 2.80%.  The average of the best two year CD rates remained unchanged at 2.74%.

In the five year CD term category the average of the best rates rose from, 3.43% to 3.45%.  The highest five year CD rate is promoted by Citizens First Bank at 3.56%.  One basis point lower is the five year CD from Superior National Bank and Trust with a rate of 3.55%.  One more basis point is lower is the five year CD of Community Central Bank at 3.51%.

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