CD rates declined again this past week, continuing the down trend of the past year and a half. 12 month CD rates are just above 1.00 percent and probably will break 1.00 percent in a week or two.

The FOMC met last week and decided to keep the Fed funds rate in the targeted range of zero percent to one quarter percent for the foreseeable future.

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CD Rates

• 3 month CD rates at banks are at 0.499 percent this week, down from last week’s average rate of 0.504 percent. UFB Direct is offering one of the best 3 month CD rates available - the current CD rate is 1.19 percent and the APY is 1.20 percent.
• 6 month CD interest rates are at 0.739 percent, down from the prior week’s average rate of 0.746 percent. First Century Bank is offering a 6 month CD yield of 1.75 percent.
• 12 month certificate of deposit rates are averaging 1.008 percent, down from the previous week’s average rate of 1.015 percent. Discover Bank is offering a 12 month CD yield of 1.75 percent.
• 18 month CD rates are averaging 1.183 percent, down from last week’s average rate of 1.193 percent. Nationwide Bank is offering an 18 month CD yield of 1.90 percent. 
• 24 month rates are averaging 1.489 percent this week, down from the previous week’s average of 1.499 percent. AIG Bank is offering a 24 month CD yield of 2.15 percent.
• 36 month CD interest rates are at 1.832 percent, down from the prior week’s average of 1.839 percent. Ally Bank’s current 36 month CD yield is 2.49 percent.
• 48 month CD rates are averaging 2.056 percent, down from last week’s average rate of 2.064 percent. PenFed’s current 48 month CD yield is 3.25%.
• 60 month certificate of depositsare averaging 2.344 percent, down from the prior week’s average rate of 2.353 percent. PenFed is offering a 50 month CD yield of 3.50%.

Search for the highest CD rates in your zip code here: Search for the highest CD rates here.

Bank CD rates were down fractionally again this week, but there is hope for the future. The FOMC meets this week to decide the direction of interest rates. The consensus is the Fed funds rate will stay in a targeted range of zero percent to one quarter percent.

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Although the FOMC won’t raise interest rates this time around, the Fed will become more hawkish and start pulling liquidity out of the system. The Fed will need to wind down some of its various lending programs and eliminate others, including the buying of 1.25 trillion of agency mortgage-backed securities and about $175 billion of agency debt which will end in Q1 2010.

The Fed also proposed term deposits for banks, or certificates of deposit for banks, to drain money out of the system. When the Fed starts pulling liquidity out of the system interest rates will start rising. Mortgage rates will rise quicker and faster than deposit rates.

Bank CD Rates

• 3 month CD rates at banks are at 0.504 percent this week, down from last week’s average rate of 0.509 percent.
• 6 month CD interest rates are at 0.746 percent, down from the prior week’s average rate of 0.753 percent.
• 12 month certificate of deposit rates are averaging 1.015 percent, down from the previous week’s average rate of 1.028 percent.
• 18 month CD rates are averaging 1.193 percent, down from last week’s average rate of 1.20 percent.
• 24 month rates are averaging 1.499 percent this week, down from the previous week’s average of 1.508 percent.
• 36 month CD interest rates are at 1.832 percent, down from the prior week’s average of 1.839 percent.
• 48 month CD rates are averaging 2.064 percent, down from last week’s average rate of 2.070 percent.
• 60 month certificate of deposits are averaging 2.353 percent, down from the prior week’s average rate of 2.357 percent.

Search for the best CD rates in your zip code here: Search for the best CD rates.

http://cdrates.monitorbankrates.com The national average 12 month certificate of deposit rate is at 1.024 percent this week but you can find CD rates higher than the national average rate. Right now, UFB Direct is offering a 12 month certificate of deposit yield of 1.86 percent. The minimum opening CD account deposit is $8,000.

First Federal Bank of California is offering a CD yield of 1.80. The minimum opening CD account deposit is $10,000 to receive the 1.80 percent CD yield. Nationwide Bank is also offering a CD yield of 1.80 percent with an opening deposit of $10,000. Discover Bank has a lower opening deposit of only $2,500 with a current CD yield of 1.75 percent.

Here is a list of the top 10 one year CD rates and CD yields in San Diego California. You can also search for the highest CD rates in your zip code here: Search for the highest CD rates.

Search for the best CD rates in your zip code. Best CD Rates

(http://cdrates.monitorbankrates.com) As we start the year of 2010 bank CD rates head down again this week.  It will be nice when we can start writing about CD rates increasing, hopefully sometime later in the year. The average 3 month bank CD rate is at 0.514 percent this week, down from last week’s average 3 month CD rate of 0.522 percent.

Looking for the Current CD Rates? Use our bank CD rates table to find the best CD rates. Best CD Rates

Using our bank CD rate tables, UFB Direct tops the list of 3 month CD rates at banks. UFB Direct’s current 3 month certificate of deposit has an annual percentage yield of 1.22 percent. That CD rate is more than double the national average 3 month CD rate.

The average 12 month CD rate is currently at 1.036 percent, down from the prior week’s average 12 month CD rate of 1.043 percent. GiantBank.com tops our list of 12 month CD rates and CD yields. GiantBank’s 12 month CD yield is 1.81 percent.

Bank CD Rates

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36 month certificate of deposit rates are averaging 1.84 percent this week. There are 36 month CD rates a lot higher than the national average rate.

Right now Pentagon Federal is offering a 36 month certificate of deposit yield of 3.00 percent. The minimum opening deposit is $1,000.

Below is a list of 36 month certificate of deposit rates in Dallas, Texas. You can search for the best CD rates in your zip code here: Search for the best CD rates.

Best CD Rates - Top 36 Month Certificate of Deposit Rates

Above the national average rate:

PenFed 3.00%
Nationwide Bank 2.60%
AIG Bank 2.50%
Discover Bank 2.50%
Ally Bank 2.49%
First Internet Bank of IN 2.40%
EverBank 2.25%
Bank of Internet USA 2.25%
American Express Bank FSB 2.25%
Whitney National Bank 2.25%
Tennessee Commerce Bank 2.25%
Giantbank.com 2.16%
Ameriprise Bank FSB 2.10%
Jefferson State Bank 2.00%
EmigrantDirect.com 2.00%
E-LOAN.com 2.00%
Prosperity Bank 1.86%
Bank of America 1.85%
Allstate Bank 1.85%

Below the national average rate:

Bank of Texas 1.75%
MetroBank  1.70%
North Dallas B&T  1.65%
Guaranty Bank 1.65%
Bank of America 1.60%
Legacy Bank of Texas 1.60%
UFB Direct 1.60%
HSBC Direct 1.60%
ING DIRECT 1.50%
Citibank 1.50%
Amegy Bank of Texas 1.40%
BankDirect 1.26%
Bank of the West 1.14%
Texas Capital Bank 1.01%
Wells Fargo Bank 1.01%
Wells Fargo Bank 1.01%
Wells Fargo Bank 1.01%
Broadway National Bank 1.00%
Zions Bank 0.80%
Chase 0.75%
Beal Bank 0.70%
E*TRADE Bank 0.60%

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