Certificate of deposit rates managed to shift even lower for the week ending Nov 6, 2009.  Bank CD rates with a six month maturity and CD rates with a two year maturity held steady while the one year rate dropped modestly and the five year fell considerably.

The average of the best six month CD rates available nationally was unchanged for the week.  The average of the top ten best six month CD rates remained at 1.57%.  Though the average of the top ten interest rates was unaltered, the highest six month CD rate was reduced rather dramatically.  Ascencia Bank continues to offer the highest six month CD rate available nationally, however the bank lowered the rate from last weeks APY of 1.76% to 1.63% this week.

The best one year CD rates average available nationally was down by two basis points or 2/100 of a percent for the week.  The average yield on the top ten best one year CD rates reached down to 2.02% from the prior week’s average of 2.04%.  The highest CD rate with a one year maturity, like the six month rates, was lower by a much more significant amount.  The best one year CD rate now stands at 2.10%, which is down from the previous week high yield of 2.20%.  UmbrellaBank.com continues to offer the highest one year CD rate but now shares the top spot with Amboy Direct.

The average of the highest two year CD rates was unchanged for the week.  The top ten best two year CD rates continued to produce an average interest rate of 2.31%.  The highest two year CD rate along with the average also remained unchanged.  The best two year CD rate is a product of Atlantic Coast Bank which promotes a two year CD rate of 2.40%.

The average of the best five year CD rates available nationally took the biggest hit in yield for the week.  The average of the top ten best five year CD rates was down by six basis points or 6/100 pf a percent to end the week.  The average yield fell from the 3.40% in the previous week to 3.34% this week.  The highest five year CD rate managed to hang on week over week, clinging to an interest rate of 3.50%.  A 3.50% five year CD interest rate can be found at Acacia Federal Savings Bank as well as Flagstar Bank.

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