CD Rates: Current CD Rates July 14, 2009

Certificate of deposit rates continue to drift down with no big changes in rates.  Rates are so low these days the yield curve on CD rates is flatting out.

The difference between the national average rate for a 12 month certificate of deposit and a 48 month certificate of deposit is less than one percent.

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The average rate on a three month certificate of deposit this week is 0.738 percent, down from the prior week’s average rate of 0.749 percent. Six month certificate of deposit rates are at 1.034 percent this week, down from the previous week’s national average rate of 1.051 percent. 

You can find CD rates at banks higher than the national average. Currently Ally Bank is offering a 3 month certificate of deposit rate of 1.09 percent and a six month certificate of deposit rate of 1.59 percent.

One year certificate of deposit rates are averaging 1.324 percent this week, down from last week’s average rate of 1.331 percent. 18 month CD rates are averaging 1.446 percent this week, down from 1.477 percent.

Longer term certificate of deposit rates were also down slightly this week. Two year CD rates are currently averaging1.719 percent, down from the prior week’s average rate of 1.728 percent. The average rate for three year certificate of deposit rates are at 1.997 percent, down from 2.009 percent.

The average CD rate on four year certificate of deposits is at 2.217 percent this week, down from the prior week’s average rate of 2.228 percent. Five year CD rates are averaging 2.456 percent, down from last week’s average CD rate of 2.465 percent.

Searching for the Best CD Rates? Use MonitorBankRates.com to find CD rates in your zip code.

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