Resuming the trend that has been prevalent throughout most of 2010, national CD interest rates were down, on average, for the week ending May 28, 2010. National average certificate of deposit rates at banks and credit unions marched lower this week on the short and long end of the CD yield curve. Bank CD rates continued to erode in the six month and five year maturities while the one year and two year terms remained unchanged.

Based on the current survey of bank CD rates performed by Selectcdrates.com, the short term six month bank CDs absorbed the biggest loss on the week. The average of the top ten best six month CD rates lost three basis points or 3/100 of a percent on the week. The average rate for the highest six month certificates settled at 1.19%, down from last week’s average yield of 1.22%.

The average CD rate for the top ten best one year CDs was unchanged for the week. The average one year CD rate remained at 1.53%.

National average CD rates for the two year maturity certificates were also unaltered on the week. The average yield for the top ten highest two year CD rates held constant at 2.01%.

Five year CD rates followed the short term six month CD rates and pushed lowered to close the week. The average yield for the best five year CD rates available nationally moved lower by two basis points. The average yield on the best national CD rates with a five year maturity closed at 3.03%.

Prolonged turmoil in the equity markets and uncertainty over debt problems in Europe as well as questions of banking problems in some European countries continues to push investor funds into safe and secure fixed rate investments which has driven bank rates, Treasury rates and mortgage rates lower for most of this year. In addition, the Fed has not yet waivered from the position that interest rates will remain low for an extended period of time and inflation is not a concern. Rule number one of investing – don’t fight the Fed.

To view a list of the best CD rates available nationally by maturity, see the Selectcdrates.com CD rate tables by term at six month CD rates, one year CD rates, two year CD rates and five year CD rates.

Tags: , , , , , , ,

No user commented in " National CD Interest Rates June 1, 2010 "

Follow-up comment rss or Leave a Trackback

Leave A Reply

 Username (*required)

 Email Address (*private)

 Website (*optional)