Bank CD interest rates were down by a slight margin for the week ending May 7, 2010.  The average rates on three of the four key certificate of deposit maturities surveyed by Selectcdrates.com were down for the week, while the average rate for two of the CD maturities managed to rise.  Six month term CDs, two year maturities and five year maturities were all down for the week while the one year term bank CDs and three month CDs experienced a moderate increase in yield according to the most recent survey of bank CD rates performed by SelectCDrates.com.

The average yield for bank CDs with a 3 month term increased marginally for the week.  The average of the top ten best three month CD rates came in at 0.82% and increase of juts one basis point or 1/100 of a percent from the previous average interest rate of 0.81%.  The best three month term CD available nationally held steady with a rate of 0.95%.

The average yield on the top ten best six month CD rates available nationally moved lower by two basis points or 2/100’s of a percent by weeks end.  The average yield for the highest six month CDs now stands at 1.22%, down from the prior week’s average rate of 1.24%.  The highest six month CD rate was down by just one basis point with an interest rate of 1.27%.

Along with the three month CDs, the top ten one year CD rates manage to move to the plus side for the week.  The average yield for one year term bank CDs closed the week at 1.53%, and increase of one basis point from last week’s rate at 1.52%.  The highest one year CD rate was unchanged on the week with a yield of 1.55%.

Two year CD rates followed the six month certificates, moving to the downside, and lost one basis point off the average rate.  The average CD rate on the top ten best two year CDs available nationally slid down to 2.01% from 2.02% in the previous week.  The highest two year CD rate was unaffected and remains at 2.10%.

The best five year CD rates were also lower on the week.  The average rate on the top ten best five year CDs lost just one basis point.  The average yield for the five year term CDs ended the week at 3.10%, off from last week’s average yield of 3.11%.  The top five year CD rate was unaltered on the week with an interest rate at 3.26%.

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