CD rates at the nation’s banks were little changed for the week ending July 8, 2011.  The average rate on the top CD rates available nationally inched just negligibly on the week.  The index of the highest CD rates for the three month, six month, one year, two year and five year CD terms rose by 2/1000ths of a percent to 1.356 percent. 

It may be significant, that even with such a small rate increase in bank CDs this increase followed a week of rather measurable increases in bond rates and lending rates.  The rate increases took place during the week that ended July 1st.  During that week, the ten year U.S. Treasury bond increased in rate from 2.88 percent to 3.22 percent, a 34 basis points increase in rate.  The two year Treasury increased from 0.35 percent to 0.50 percent during that same week.  These are the Treasury rates changes for the week ending July 1st.

One week later, July 8th, the Treasury rates reversed direction.  The ten year Treasury has now moved back down to 3.03 percent.  The two year Treasury has dropped to 0.40 percent.  It is quite possible that any increases in bank CD rates or bank savings rates in general may be fleeting.

Many of the best CD rates were unchanged on the week.  The top three month CD rate continues to be a product of Nexity Bank at 0.81 percent.  Nexity also takes the top spot for the highest six month CD rate at 1.12 percent.  Both the three month CD and six month CD rate were unaltered from the prior week.

The best one year CD rate and two year CD rate were also unchanged from the previous week.  MetLife Bank promotes the top rates in these two term categories.  The highest one year CD rate remains at 1.30 percent from MetLife while the two year CD rate is at 1.55 percent.

The five year CD rate was the one term that displayed some activity on the week.  The highest five year CD rate increased by four basis points or 4/100’s of a percent.  The best five year CD now comes from EverBank at a rate of 2.54 percent.

 To compare the best CD rates nationally by maturity including the best three month CD rates, six month CD rates, one year CD rates, two year CD rates and five year CD rates refer to the following CD interest rate tables: 3 month CD rates, 6 month CD rates, 1 year CD rates, 2 year CD rates or 5 year CD rates.

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