The best CD rates available nationally drifted moderately lower over the past week.  Although rate changes were seen on three out of the five maturities measured in the weekly CD rate survey, the magnitude of the rate movements was quite contained.  The average CD rate measured by the CD rate index for the week ending June 29, 2012 was depressed by 2/1000ths of a percent (0.002 percent).  The decrease in the CD rate index pushed the average rate down to 1.056 percent from 1.058 percent found in the previous weekly CD rate survey.

The top three month CD rates did not partake in any rate changes this week.  The average rate found on the top ten highest three month CD rates remained at 0.496 percent.  While an unchanging rate is no big thrill for investors, the best three month bank CDs ratcheted up quite a bit in the previous weekly survey.  The highest three month CD rate remains with the EverBank CD.

The best six month CD rates slipped a wee bit over the course of the week.  The average rate on the top ten highest six month CD rates was reduced by 2/1000ths of a percent, the exact amount of the increase experienced in the prior week.  The average rate on the six month certificates now stands at 0.770 percent.  The highest rate can be found on Ascencia Bank six month CD.

One year rates matched the decline of the six month term certificates and decreased by 2/1000ths of a percent.   The average rate on the top one year CDs ended the week at 1.046 percent, the previous week average yield stood at 1.048 percent.  Doral Bank Direct still commands the top spot with a one year CD interest rate of 1.15 percent.

The best two year CD rates were unmoved.  The average rate on the best two year CDs lingered around with an interest rate of 1.178 percent.  The highest rates in the two year term category continue to be the products of CIT Bank and Barclays Bank; these two banks offer online CDs with interest rates at 1.25 percent.

The longest term CD in the weekly survey, five year maturities, showed the greatest rate change for the week.  With a deterioration in the average rate of just 3/1000ths of a percent, even these CDs showed amazing resilience in light of the overall drop in interest rates in the bond and money markets.  The average rate on the top ten five year CD rates slipped to 1.792 percent from 1.795 percent in the earlier weekly survey.  The best rate on the long term CDs comes from National Republic Bank of Chicago and State Bank of India which offer the five CDs at 1.91 percent.

To find more information on the highest CD rates by maturity for the June 29, 2012 CD rate survey 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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