CD interested rates were essentially flat for the week ending November 11, 2011.  The top CD rates available nationally were unchanged on the very short end of the CD rate curve as well on the midterm range; however rates moved ever-so-slightly higher on the long end of the curve. 

The interest rate movements in bank CD rates matched that rate changes found in the Treasury market.  The shortened week with the Veterans Day Holiday ended with Treasury rates little changed from the start of the week.  Six month Treasury rates ended the week one basis point or 1/100th of a percent higher than where they started with a yield of 0.04 percent.  The one year Treasury rates reversed that movement and closed down one basis point at 0.10 percent.  The five year Treasury yield was two basis points ahead of the previous week with an interest rate at 0.90 percent.

By reviewing the current changes in Treasury rates you can see that the Treasury rates did in fact remain quite stable similar to the yields in bank CDs, but they also offer interest rates that are significantly lower than those that are available with bank CDs.  You may not like the current yields but CD rates remain well above the rates found on U.S. Treasuries.

The best national CD interest rates, on average, held firm this past week.  The average rate for the top ten bank CD rates with a three month term, six month term, one year term, two year term and five year term was unchanged at 1.139 percent.  

The top three month bank CD rates ended the week unchanged with the average yield holding at 0.527 percent.  The three banks that offer the highest three month CD rates have not changed their rates since the first week of October.  The best three month CD rates continue to be the products from Hudson City Savings Bank at 0.75 percent, Virtual Bank at 0.60 percent and One West Bank with a three month CD also at 0.60 percent.  

The average rate for the best six month CD rates ended down marginally.  The average six month rate closed at 0.806 percent, less than one basis point lower than last week’s average rate of 0.812 percent.  AloStar Bank’s six month CD rates of 0.86 percent, remains the highest six month CD rate on the market.  The second best rate is also unaltered week over week, with four banks offering a rate just one basis point below that of AloStar Bank.  Stonebridge Bank, Virtual Bank, Ascencia Bank and One West Bank have six month CDs with interest rates at 0.85 percent.

One year CD rates had a very slim gain in yield as the week came to a close.  The average rate for the top ten highest one year CD rates was 1.097 percent, compared to 1.095 percent in the prior week.  The best one year CD rate is available with a yield of 1.15 percent.  The top rate can be found at three banks including; CIT Bank, Doral Bank Direct and Popular Community Bank.  AloStar Bank markets the next best one year CD rate at 1.12 percent.

Two year CD rates were also undisturbed over the period of a week.  The average rate for the best two year CD rates remained at 1.273 percent.  The top two year CD rate was unchanged along with the average.  The highest rate held at 1.30 percent and is promoted by four banks, the same banks from the previous CD rate survey.  Ultima Bank of Minnesota, American Express Bank, CIT Bank and AloStar Bank of Commerce all offer two year CD with interest rates at 1.30 percent.  Pacific Mercantile Bank runs a close second with a two year CD rate at 1.28 percent.

The average rate for the top ten highest five year CD rates was boosted by a smidgen this week.  The average five year CD rate increased to 1.992 percent from 1.987 percent in the week earlier.  The rise in the average rate was almost entirely due to the five year CD available at iGOBanking which boosted their five year term CD to rate of 2.25 percent.  This rate is measurably higher that the next best competitor, State Bank of India which has a five year CD that yields 2.02 percent.  Two basis points behind State Bank of India are the bank CDs from Hudson City Savings Bank and Intervest National Bank with five year rates at 2.00 percent.

To find more information on the best CD rates by maturity please see the following CD rate tables at three month CD ratessix month CD ratesone year CD rates, two year CD rates and five year CD rates.

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