National certificate of deposit rates once again moved lower for the week ending July 16, 2010. According to the most recent survey of bank CD rates performed by Selectcdrates.com, CD interest rates were lower for three of the five CD maturities measured and remained unchanged for the remaining two terms.

The average of the top ten highest CD rates with a three month term fell just slightly. The average of the best three month CD rates ticked down by just one basis point or 1/100. The average rate for the top ten best three month CD rates ended the week at 0.76% from 0.77% in the previous week.

The six month CDs held their ground for the week. The top ten best six month certificates of deposit remained unchanged week over week. The average of the top ten highest six month CD rates held with a yield of 1.18%.

One year CD rates followed the three month CD maturities and moved lower for the week. The average rate on the best one year CD rates dropped by one basis point bringing the average yield to 1.51% from 1.52% in the prior week.

The two year CD rates suffered the biggest casualty on the week. The average rate on the top ten best two year CD rates moved lower by two basis points. The average yield for the two year certificates ended at 1.95% which is down from the preceding week’s average rate of 1.97%.

Five year CD rates from the top ten highest bank CDs were unaltered for the week. The average rate for the top ten best five year CD rates ended the week with same yield they started with, 2.97%.

Not only were the top CD rates lower on average week over week, but the average Treasury rates were also lower. Six month Treasury rates moved just modestly lower to 0.19% from 0.20% n the start of the week, however this rate at the low point for the month. The one year moved down to 0.28% on Friday from 0.30% on the previous Friday and the ten year Treasury rate took the biggest drop, falling 12 basis points from 3.07% to 2.96% by week’s end.

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