CD rates in Washington are beginning to slide and finally lose their edge over the best national CD rates.  Both the one year CD rates and five year CD rates are now yielding less than the best national bank rates.  Six month CD rates in Washington remain strong due to the above average rate offered by Raymond Federal Bank.  Raymond Federal Bank continues to offer a promotional seven month CD that has an interest rate of 2.43% well above the competition.  The next best CD rate in the six month term drops to 2.15% and is available at more than one bank. 

One year CD rates in Washington dropped with the highest one year CD rate being offered by both Business Bank and Summit Bank with interest rates at 2.65%.  The next best one year CD rate is offered by Mountain Pacific Bank at 2.59%.  Four banks offer one year CD rates at 2.50% or higher to complete the list.

Two year CD rates were down as well for the week.  The highest two year CD rate is now a certificate from Business Bank that has an interest rate of 2.90%.  This rate is down from last week but matches the highest CD rates available nationally.  HomeStreet Bank follows with a two year CD rate of 2.85%.  Only one basis point or 1/100 of a percent lower is the 30 month CD of Raymond Federal Bank that yields 2.84% down from last weeks rate of 3.15%.

The best five year CD rates in Washington remained constant but lag the best national rates.  The highest five year CD rates stands at 3.55% and is promoted by HomeStreet Bank.  Two banks, Cashmere Valley Bank and North Cascades National Bank, remain in second position with five year CD rates of 3.51%.

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