Interest rates on certificates of deposit were lower for the week ending April 10, 2009.  Although CD rates have been on a steady decline throughout the year the rate of decline on bank CD yields was been reduced slightly this week.  The longer term maturities saw the smallest reduction in rates.  On the longer term maturities, the top 10 five year CD rate average dropped to just 3.44% where the average for the top 10 CD rates for 6 month maturities had fallen to 2.22%.

Unfortunately for those consumers investing in certificates of deposit, savings accounts and money market investments, the bleak forecast continues.  The stock market has certainly shown some sign of life but jobless claims continue at an elevated pace and retail sales figures are not offering any immediate hope for an economic rebound.  As the economy moves through this stagnant pace of no growth, interest rates are bound to remain low for at least the immediate future.

Bank CD Investors will still find opportunities in some of the local markets.  National CD rate offers and averages are a good starting point for CD rate comparisons but for many investors shopping for FDIC insured certificates of deposit, the local and regional banks can offer yields that far outpace the national average.  In California, First Republic Bank is offering a 5 year CD with a rate of 4.00%, well above the highest national five year CD rate.  In Texas, Park Cities Bank offers a two year CD rate of 3.20%, also above the highest national two year CD rate by a measurable quantity.  Similar cases can be found within the state tables for the highest CD rates at

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