1 Year CD Rates August 10, 2012: Best Rates at 1.09%
Could we finally be heading towards CD rates moving higher after a painful period of record low rates? Last Friday a stronger than expected jobs report sent bond yields higher. Let's hope the positive economic news continues and the economic gains momentum. A stronger economy will eventually bring higher inflation and force the Fed to act to raise interest rates and bank CD rates will also increase.
Right now the best CD rates on our rate list for 1 year certificates of deposit is at 1.09 percent with an APY of 1.10 percent. CIT Bank CD rates, Doral Bank CD rates and Bank of Internet 1 year rates are at 1.09 percent with an APY of 1.10 percent.
Looking back a couple of years ago 1 year CD rates at banks just above 1.00 percent wouldn't seem like the "highest" rates but these days they are the highest around.
The current national average 1 year CD rate on Bankrate's survey is at 0.71 percent and the FDIC's national average is at 0.27 percent. A 1.10 percent APY is starting to look a lot better.
The second and third highest CD rates on our list of 1 year rates are also above 1.00 percent. Current 1 year MetLife Bank CD rates are at 1.04 percent with an APY of 1.05 percent. EH National Bank 1 year CD interest rates are at 1.03 percent with an APY of 1.04 percent.
Best 1 Year CD Rates August 10, 2012
All the banks listed on our rate tables are members of the FDIC and have their deposits insured by the FDIC for up to $250,000. You can compare CD rates for many different types of certificate of deposit terms on our rate tables below:
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