CD Rates May 31: Average CD Rates Continue to Decline

Average CD rates for this week are lower, continuing the slow tortuous decline of the past three years. 12 month CD rates as reported by MonitorBankRates.com are now averaging 0.58 percent. This rate is down from the previous week's average of 0.61%. However, you can get rates higher than the averages. Right now on our rate table Tennessee Commerce Bank is offering 12 month rates at 1.29% with an APY of 1.30%.