Certificate of deposit interest rates fell across all maturities for the week ending April 2, 2010.  After a week of marginal reductions in bank rates, the most recent week saw the average yield on the highest CD rates available nationally take a fairly sizeable tumble based on the survey of the top ten best CD rates performed by SelectCDrates.com.

All four CD terms evaluated by SelectCDrates.com experienced a drop in yield for the week.  The average rate on the top ten highest six month CD rates available nationally fell the least of the four certificate of deposit terms, falling by just one basis point or 1/100 of a percent on the week.  The rate on the six month CD rate now stands at 1.27%.  The highest six month CD rate was unscathed and held steady for the week at 1.31%.

The best one year CD rates were down by a bit more than six month CDs, dropping by two basis points week over week.  The average rate on the top ten best one year CDs moved down to 1.62% from 1.64% in the previous week.  The best one year CD continues to remain at 1.90%, as it has been most of 2010.

Two year bank CDs were down by the twice that of the one year CDs.  The average two year CD rate was knocked down by four basis points, driving the yield to 2.04% from 2.08% in the prior week.  Fortunately, the highest two year CD rate was also unchanged on the week, holding on to a top interest rate of 2.15%.

The average for the top ten best five year CD rates lost two basis points for the week.  The average rate for the five year certificates moved down from 3.20% last week to 3.18% in the current week.  For this maturity, the best rate ended with an increase in yield.  The highest five year CD rate moved up to 3.44% by the close of the week from 3.39% previously.

The CD interest rate decreases for the week were on par for the average weekly rate decreases seen through most of the first quarter of 2010.  The rate changes stood at as somewhat unusual since the last two weeks had seen some stabilization in bank CD rates and the past 3-4 weeks Treasury rates have begun to climb with some persistence.

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