Changes in bank CD rates were relatively muted over the past week as banks and market participants await more information on the direction the Fed is expected to take regarding quantitative easing in the next few months.  The best CD rate available nationally saw a slight 4/1000ths of a percent rate reduction from the previous week.

The CD rate index dropped down to 1.054 percent from 1.058 percent in the week earlier. 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 interest rates found on the ten best three month and six month CDs were unchanged for the week ending November 15, 2013.  The average rate for the top three month CDs held at 0.401 percent while the average rate for the top six month CD rates remained at 0.742 percent.  The highest three month CD rate was also unchanged at 0.51 percent, and is available at  Bank5 Connect offers the highest six month CD with a rate at 0.90 percent.

The top one year rates were the big losers on the week, accounting for most of the loss in the index by giving up 1.4 basis points or 0.014 percent.  The average rate coming from the top ten high yielding one year term certificates closed out the week at 1.004 percent after ending the prior week at 1.018 percent.  A trio of banks have the highest yielding one year CDs at 1.05 percent.  GE Capital Bank, Dollar Savings Direct and CIT Bank all have CDs currently earning the top rate.

The top two year bank CDs were lower on average by a half of one basis point or 5/1000ths of a percent.  The average rate on the best two year CDs was 1.163 percent compared to 1.168 percent last week.  Bank5 Connect is lone stand out in this maturity with a two year CD rate of 1.25 percent.

Five year CDs were off by just a small fraction, giving up 2/1000ths of a percent to 1.958 percent from 1.960 percent in the last weekly CD rate survey.  Virtual Bank sits just a smidgen above the competition with a five year certificate interest rate of 2.02 percent.  EverBank’s five year CD is only one basis point lower at 2.01 percent and three more banks, including SalemFiveDirect, National Bank of Kansas City, and Barclays Bank have five year CD accounts another one basis lower at 2.00 percent.

A list of the best CD rates available across the nation for the week ending November 15, 2013 is available to help consumers shop and compare the highest CD rates by maturity.

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