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Direction of CD Rates This Year
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Recent economic numbers, including GDP released on Friday showed the economy slowing to a 2.4 percent annual rate for the second quarter, down from the first quarter’s rate of 3.7 percent. The Federal Reserve’s Beige Book report last week showed economic activity continues to increase modestly but two districts, Atlanta and Chicago, said the pace of economic activity slowed recently. The Federal Reserve also revised down their outlook for growth in their June minutes released late last month. The fed believes inflation still isn’t a concern at this point for them to raise interest rates. A slowing economy and low inflation will keep a lid on CD rates for the foreseeable future. Here is a list of the national average CD rates as of August 2, 2010. Current National Average CD Rates
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Rate Tables       Banking & Finance InformationBest CD RatesCD Calculator CD Rates Mortgage Calculator Mortgage Rates RatesORama.com Savings Account Rates Banking Articles12 Month CD Rates: PenFed Tops Our 1 Year CD Rates List at 1.16% APYCD Rates: 1 Year Bank CD Rates 2012 National CD Rates: Average 2 Year CD Rate at 0.90%, Highest 2 Year CD APY at 1.50% Ally Bank CD Rates – 1 Year Bank CD Rates at 1.19% Staying Ahead the Inflation Rate on Your Investments Deposit Rates Staying Low for the Rest of 2011 Highest National CD Rates: E-Loan Still Tops Our 12 Month CD Rates list at 1.25% Texas CD Rates: Top 12 Month CD Rate 1.25% APY 1.26% Best National 1 Year CD Rates: Highest APY at 1.26% CD Rates May 31: Average CD Rates Continue to Decline |
Which direction are CD rates headed in the near future? Unfortunately for depositors, CD rates will stay at these low levels for the rest of 2010 and possibly stay low into 2011. The economy is slowing down and inflation isn’t a threat to force the FOMC to increase interest rates. In fact, these days there is more of a concern about deflation than inflation.
