Best CD Rates This Week as Higher Rates Sooner Than Later a Possibility
CD rates were mixed this week as Federal Reserve Chairperson, Janet Yellen, hinted that interest rates could be increased sooner than later. Janet Yellen testified before the Senate Banking Committee recently and basically said if the unemployment rate falls further, the Fed might have to raise rates sooner than thought.
1 year CD rates are higher this week averaging 0.91 percent, up 1 basis point from last week's average rate of 0.90 percent. 2 year CD interest rates are slightly lower averaging 1.08 percent, a decline from last week's average rate of 1.09 percent. 5 year rates remained unchanged at 1.74 percent.
While average rates remained nearly unchanged, several banks have increased both their short term and long term CD rates. Listed below are the most current CD rates at banks in the United States.