CD rates crawled slightly higher after markets concerns over the government debt ceiling, a government shutdown, Mideast tension, Obama Care, NSA spying, dramatic increases in domestic oil production and more Miley Cyrus antics appeared to pass us by without a major incidence.  The credit and fixed income markets saw quite a bit of volatility during these events but ultimately benefited from all of the chaos and ended the week on up note for savers and investors.

As the events passed us by, the markets have taken the firm position that the Federal Reserve will be making no significant announcements to changes to its monetary.  The Fed actions as well as central bank intervention by other nations have been the strongest driving force this year regarding interest rates.  With the pedal remaining pushed to the floor boards, bank rates and CD rates are expected to stay contained until more economic growth begins to stir. 

The best CD rates available nationally, as measured by the SelectCDrates.com CD rate index, increased by a notable, 5/1000ths of a percent on the week.  The CD rate index ended the week of October 25th at 1.049% after closing at 1.044% in the previous week.  Rate increases were seen on the midterm maturities with the short term certificates holding steady and long term rates experiencing a mild decline.  The CD rate index measures the top ten highest bank CD rates available nationally for three month term CDs, six month CDs, one year CDs, two year CDs and five year term CDs.

Three month CD rates were left unchanged this past week with the average interest rate remaining at 0.401 percent.  UmbrellaBank.com continues to hold the top position among the short term certificates.  With an interest rate of 0.51%, the UmbrellaBank.com three month CD rate is six basis points above the next best contenders, One West Bank and AloStar Bank, which have three month CD accounts earning 0.45%.

Six month CD rates ratcheted ahead one full basis point.  The average rate on this term closed the week at 0.747% after closing at 0.737% in the previous week.  Bank5 Connect leads the pack with a six month CD rate at 0.90%.

The best one year CD rates climbed higher by 5/1000ths of a percent bringing the average rate up to 1.008% from 1.003% in the prior week.  Two banks, GE Capital Bank and Dollar Savings Direct, are offering identical yields at 1.05%, the highest CD rate available nationally with a one year term.

Two year CD rates ascended by over one basis point, 1.6 basis points to be precise, towing the average two year yield up to 1.148% from 1.132% during the week earlier.  There are now three banks offering two year CD rates at 1.20%, the highest available in all 50 states.  The Nationwide Bank CD two year CD rate, CIT Bank CD two year CD rate, and AloStar Bank CD two year CD rate can be obtained with an annual percentage yield of 1.20%.

Five year certificates bucked the trend and gave up yield this week.  The average rate found on the top ten highest five year CD rates declined by 5/1000ths of a percent.  The average rate on the five year accounts dropped to 1.940 percent from 1.945 percent from the preceding weekly survey.  A number of banks continue to offer fiver year terms with yields at 2.00%, the highest rate available, including State Farm Bank, SalemFiveDirect, National Bank of Kansas City and Barclays Bank.

A list of the best CD rates available across the nation for the week ending October 25, 2013 is available to help consumers shop and compare the highest CD rates by maturity and can be found at 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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