As mortgage rates moved closer to record lows and the stock market made a nasty turn to the downside, CD interest rates managed to show a slight uptick.  The average CD rate available nationally measured by the CD rate index was bumped up this past week by 6/1000ths of a percent.  The CD rate index increased to 1.051 percent from an average rate of 1.045 percent found in the previous weekly survey.  The CD rate index measures the average interest rate on the top ten highest three month bank CDs, six month CDs, one year CDs, two year and five year CDs.

The top three month CD rates available nationally experienced no change over the course of the week.  The average CD rate found on the top ten best three month bank CDs held at 0.478 percent.  The highest three month CD rate remains with the E-Loan three month CD that comes with a rate of 0.65 percent.  The next best rate falls a fair bit behind the E-Loan top yielding account, with EverBank’s three month CD rate at 0.57 percent.

Six month CD rates provided some upside action with a rate increase of 5/1000ths of a percent for the week, pushing the average rate up to 0.775 percent from 0.770 percent in the prior week.  The Doral Bank Direct six month CD rate of 0.91 percent leads the group.  Two banks follow the leader a rather measurable 11 basis points lower with rates at 0.80 percent.  Giant Bank and Colorado Bank have six month CD rates at 0.80 percent to promote the second best rates for this maturity.

One year CD rates edged higher by just over one basis point this past week.  One basis is pint is equivalent to 1/100th of a percent.  The average rate on the top ten highest one year CD rates came in at 1.074 percent compared to 1.063 percent in the week earlier.  The best one year CD rate is the bank product of ableBanking which promotes the one year certificate with a rate of 1.12 percent.  Following close behind the top rate is the one year CD at AloStar Bank of Commerce which has an interest rate of 1.11 percent.

The two year bank CDs displayed the greatest rate increase week over week, rising by 1.2 basis points.  The average rate found on the top ten highest two year CDs jumped to 1.202 percent from an average yield of 1.187 percent in the preceding week.   The highest two year CD is a promotional product from NexBank based in Texas.  NexBank offers a two year CD with an interest rate of 1.30 percent.  AloStar Bank runs in second place with a two year term certificate yielding 1.26 percent.

Five year CDs matched the action of the short term, three month CDs, and stayed right where they started the week.  The average CD interest rate on the best five year bank CDs remained at 1.726 percent.  The highest five year CD rate comes from State Bank of India with a 1.81 percent yield.  The Nationwide Bank CD and CIT Bank CD with five year terms are very close second place with annual percentage yields of 1.80 percent.

Additional CD rates measured in the weekly bank CD rate survey but not incorporated in the index include the top ten best nine month CD rates, 18 month CD rates, three year CD rates and four year CD rates.  The average rate on the top nine month CDs came in at 0.796 percent, the 18 month CD rate ended the week at 1.059 percent, the average rate for the three year bank CDs closed the week at 1.328 percent while the average four year CD rate was 1.443 percent.

To find more information on the highest CD rates by maturity for the November 12, 2012 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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