A weak jobs report has pushed interest lowers including bank CD rates.  The most recent economic reports led by the monthly jobs report has turned the tide on the string of improving economic data and brought into question the vitality of US economic recovery.  Slow growth generally leads to low levels of inflation, low loan demand and in the present situation, the possibility of further Fed intervention.  All three of these scenarios lead to lower interest rates and bank CD rates over the past week.

The average CD rate for the week ending April 6, 2012 dropped down to 1.048 percent from 1.052 percent in the week earlier, a very modest reduction of 4/1000ths of a percent.  The average CD rate in the Selectcdrates.com weekly survey is measured by taking the average rate for the top ten highest three month CDs, six month CDs, one year CDs, two year CDs and five year CDs.

Short term CD rates displayed no change on the week.  The best three month CD rates and six month CD rates available nationally were unchanged from the previous week.  The rate for the top ten highest three month bank CDs held at 0.494 percent while the average rate for the top ten best six month CDs remained at 0.754 percent.  The Eloan three month CD leads the top rates in this term with an interest rate of 0.65 percent.  The six month CDs are led by the AloStar Bank of Commerce CD which has an interest rate of 0.85 percent.

The best one year CD rates shaved 3/1000ths of a percent off of the average yield this past week. The average rate found on the top highest one year CDs moved down to 1.046 percent from 1.049 percent in the previous week.   The highest one year rate was unchanged for the week with the Doral Bank CD continuing to the lead the pack with a yield of 1.15 percent.

Two year CD rates displayed the biggest rate change over the week.  The average two year CD rate dipped by 1.6 basis points, one basis point is equal to 1/100th of a percent. The average rate coming from the top ten highest two year CDs came in at 1.145 percent after starting the week with an average rate of 1.161 percent.  The highest two year CD rate is now the certificate available at CNBBank Direct which offers the two year at a rate of 1.20 percent.

Five year CD rates held steady for the week with the top arte and the average rate for the ten best CDs not moving week over week.  The average rate found on the top ten highest five year CD rates remained at 1.800 percent.  The best five year CD comes from State Bank of India which promotes a five year CD with a yield of 1.96 percent.

To find more information on the highest CD rates by maturity for the April 9, 2012 CD rate survey please see the following CD rate tables at Selectcdrates.com: three month CD ratessix month CD ratesone year CD rates, two year CD rates and five year CD rates.

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