CD rates moved modestly higher during a week when most bank rates and interest rates had shifted decidedly lower.  The big news for the week or perhaps the month, the Fed statement that there will be no reduction in the current round of stimulus or QE3, had little impact on bank CD rates.  The lack of action by the Fed caused quite a stir and drove interest rates lower on Treasury bonds, mortgage bonds and most long term, fixed income securities but left CD rates on their own.

While the Feds statement of inaction brought long term rates down across the board, this week’s market moves were mixed across the CD yield curve.  The CD rate index was bumped higher by 6/1000ths of a percent.  The CD rate index ended the week at 1.042 percent after closing at 1.036 percent in the previous week.  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.

The average three month CD yield dipped by 5/100ths of a percent on the week, slipping to 0.402 percent from 0.407 percent. offers the top three month CD rate at 0.51 percent. 

Six month CD rates were unaltered at 0.722 percent for the second week.  Bank5 Connect has the top certificate in this category with a six month CD rate at 0.90 percent.

The average rate found on the best one year CD rates was up by a fairly substantial 1.5 basis points or 0.015 percent.  One basis point is equal to 1/100th of a percent.  The average rate on the one year CD rates increased to 1.011 percent from 0.996 percent in the previous week.  The highest one year CD rate is the E-Loan CD which has an interest rate of 1.10 percent.

The average two year CD yield inched higher by one basis point, moving up to.1.144 percent from 1.134 percent in the week earlier.  The best two year CD comes from SalemFiveDirect which offers the two year term certificate with a yield of 1.50 percent.

Five year CD rates were also boosted by one basis point over the week.  The average yield on the top five year CDs increased to 1.933 percent from 1.923 percent in the preceding weekly bank CD rate survey.  The iGOBanking CD is the highest earning certificate with a five year term at 2.05 percent.  The rise in long term CDs over the past several weeks can be clearly seen with this week’s data in which five banks are offering five year CDs with yields at or above 2.00 percent.

A list of the best CD rates available across the nation for the week ending September 20, 2013 is available to help consumers shop and compare the highest CD rates at

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