Bank CD Rates – Average CD Rates Down

CD Rates continue their slow descent down this week, making new lows it seems week after week. One year bank CD rates are now averaging under 1.25 percent and you can’t get much better interest rates with the longest term CD Rates, the average 5-year CD rate is under 2.50 percent.

Will CD rates ever move higher? Yes, certificate of deposit rates will move higher when the economy gets better and interest rates start moving higher but that probably won’t happen until early in 2010.

3-months certificate of deposit rates are averaging 0.676 percent this week, down from the prior week’s average rate of 0.683 percent. Wilshire State Bank is offering one of the highest CD rates for a 3-months CD, their APY is currently 1.86 percent.

The average 6-months bank CD rate is at 0.964 percent this week, lower than the previous week’s average 0.972 percent for 6-month CD rates at banks.

12-months certificate of deposit rates are averaging 1.246 percent this week, down from last week’s average rate of 1.256 percent. Delta Community Credit Union is offering one of the best CD rates for a 12-months CD, their rate is currently at 2.32 percent.

The average 24-months certificate of deposit rate is 1.680 percent this week, a decrease from the prior week’s average CD rate of 1.685 percent.

36-months certificate of deposit rates are at 1.974 percent this week, down from the previous week’s average 36-months CD rate of 1.975 percent. You can find rates higher than the national average rates, currently Ally Bank is offering a 36-months CD with an APY of 2.70 percent, one of the top CD rates around.

The average 48-months certificate of deposit rate is at 2.195 percent this week, down from the prior week’s average 48-months CD rate of 2.203 percent.

60-months certificate of deposit rates are averaging 2.463 percent, down from last week’s average 60-months CD rate of 2.449 percent. Pentagon Federal Credit Union is offering a 60-months CD at has an APY of 3.51 percent, one of the best CD rates available today.

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