Bank certificate of deposit rates for the week ending November 13, 2009 were lower for all maturities with the exception of the five year term bank CD.  The greatest CD rate reductions were on the mid term, two year bank CDs with the short term rates experiencing only a mild decrease in the average interest rate and the five year term moving ahead mildly higher in yield.  

The average of the best six month CD rates available nationally fell by just one basis point or 1/100 of a percent for the week.  The drop in rate brought the average CD yield down to 1.56% from the previous week’s average interest rate of 1.57%.  The term leading CD rate is marketed Ascencia Bank which has a six month CD rate of 1.63%. 

The best one year CD rates were also down by one basis point.  The average of the top ten best one year CD rates averaged 2.01% at the close of the week, down from 2.02% in the prior week.  The highest one year CD rate comes from with a rate of 2.10%.

The average for the best two year CD rates fell by three basis points for the week.  The average of the top ten best two year CD rates settled at 2.28%, down from 2.31% from the previous week.  The highest two year CD rate available is promoted by Atlantic Coast Bank which offers the two year certificate with an interest rate of 2.40%.

Five year CD rates gained some ground for the week with the average interest rate on the best five year term CDs rising by two basis points pushing the yield up to 3.36% from last week’s average of 3.34%.  Goldwater Bank is the new term leader offering the highest rate in this term with a CD rate of 3.55%.

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