Interest rates on bank CDs made another move towards the downside for the week ending March 8, 2013.  Long-term certificates of deposit absorbed most of the downward momentum again this week with midterm CD rates showing little change and short term rates making a very modest move to the upside. 

The average CD yield in the SelectCDrates.com weekly bank CD rate survey slipped a fairly moderate 6/1000ths of a percent.  The average rate in the SelectCDrates.com survey is based on the average interest rate offered on the top ten highest CD rates for multiple maturities available nationally including the best three month CD rates, six month CD rates, one year CD rates, two year CD rates and five year CD rates.

The average rate on the top ten best long-term, five year, CD rates gave up the most yield this past week.  The five-year CD yield was down by 2.5 basis points sliding to 1.697 percent from 1.722 percent in the week earlier.  A basis point is equal to one-hundredth of 1 percentage point.

Two year CD rates made the next largest move on the week.  The average rate on the top ten highest two year CDs dropped by 5/1000ths of a percent pushing the average yield down to 1.158 percent from 1.163 percent in the prior week.

Rates on one year CD rates were off by just a hair over the course of the week.  The average rate on the popular, one year CDs were lower by 3/100ths of a percent.  The rate for these term certificates closed out the week with an average rate of 1.034 percent after starting the week at 1.037 percent.

Six month maturities were unchanged for the week.  The average rate on the top six month bank CDs remained at 0.730 percent.

The average three month CD yield ended with a higher yield by just a fraction in the current survey.  Three month CD rates available at the top bank CDs available across the nation climbed by a mere 1/1000th of a percent.  The average rate on the top three month CDs came in at 0.465 percent compared to 0.464 percent in the previous week.

To shop and compare the highest CD rates by maturity found in the March 11, 2013 CD rate survey please see the following CD rate tables: three month CD ratessix month CD ratesnine month CD rates, one year CD rates, two year CD rates, three year CD rates, four year CD rates and five year CD rates.

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