CD Rates – March 19, 2010

CD Rates are down this week over last. The decline in bank CD rates was fractional – no big moves down. The FOMC met earlier this week and decided to keep the Fed funds rate in a targeted range of zero percent to one quarter percent.

The Fed also didn’t change its phrase on keeping rates “low for an extended period of time.” Bank CD rates will start heading higher sometime later this year when the economy is on firm footing and the Fed increases rates.

12 month certificate of deposit rates are back under 1.00 percent. The average 12 month CD rate is at 0.960 percent this week, down from last week’s average 12 month rate of  1.034 percent.

Looking for CD rates? Use our rate tables to find the highest CD rates: CDRates.MonitorBankRates.com

CD Rates

• 3 month CD rates at banks are averaging 0.462 percent this week, down from the prior week’s average rate of 0.468 percent.
• 6 month CD rates are average at 0.765 percent, down from last week’s average interest rate of 0.746 percent. Right now, First Century Bank is advertising a 6 month CD yield of 1.75%.
• 12 month bank CD interest rates are averaging 0.960 percent, down from the previous average CD rate of 1.034 percent.
• 18 month interest CD rates are averaging 1.222 percent, down from the prior week’s average rate of 1.225 percent.
• 24 month CD rates at banks are averaging 1.446 percent this week, down from the previous week’s average of 1.458 percent.
• 36 month banks CD rates are averaging 1.645 percent,down from the prior week’s average of 1.902 percent.
• 48 month bank CD rates are averaging 2.087  percent, unchanged from last week’s average rate of 2.087 percent.
• 60 month CD rates are averaging 2.328 percent, down from the prior week’s average of 2.335 percent.