It is hard to believe we might be less than 2 months away from higher CD rates when the FOMC increases the fed funds rate. Banks and credit unions have been increasing rates, but for the most part the increases have been small. In this week's CD Rate Report, there were a handful of rate increases and a couple rate decreases.
Most of the higher rate changes were to longer term certificates of deposit. The largest increase was 0.13 percent to EverBank's 3 year CD rate. The rate was increased from 1.52 percent to 1.65 percent. Silvergate Bank now as the best 3 year rate at 1.65 percent with an APY of 1.66 percent. E-Loan.com and EverBank are now tied for having the best 4 year CD Rate at 1.91 percent and 5 year CD rate at 1.31 percent.
Also in this report, average CD rates were down across the board. Listed below is this week's CD Rate report.
Average CD Rates July 24, 2015
3 Month Average CD Rate 0.24% (down 0.02%)
6 Month Average CD Rate 0.57% (down 0.02%)
12 Month Average CD Rate 1.02% (down 0.01%)
24 Month Average CD Rate 1.16% (down 0.05%)
60 Month Average CD Rate 1.66% (up 0.05%)
Highest CD Rates Available July 24, 2015
2 Month CD Rates
MyCBB Rate 0.80% Yield 0.80%
E-Loan Rate 0.16% Yield 0.16%
Loan Star Bank Rate 0.15% Yield 0.15%
Virtual Bank Rate 0.15% Yield 0.15%
3 Month CD Rates
California First National Bank Rate 055% Yield 0.55% (down 0.05%)
First Internet Bank of Indiana Rate 0.45% Yield 0.45%
AloStar Bank of Commerce Rate 0.40% Yield 0.40%
Goldwater Bank Rate 0.40% Yield 0.40%
Virtual Bank Rate 0.40% Yield 0.40%
Barclays Rate 0.35% Yield 0.35%
Discover Bank Rate 0.35% Yield 0.35%
Nordstrom Bank Rate 0.35% Yield 0.35%
6 Month CD Rates
California First National Bank Rate 0.85% Yield 0.85% (down 0.05%)
MyCBB Rate 0.85% Yield 0.85%
EH National Bank Rate 0.80% Yield 0.80%
My e-BAnC by BAC Florida Bank Rate 0.80% Yield 0.80%
AloStar Bank of Commerce 0.80% APY 0.80%
ableBanking, a division of Northeast Bank Rate 0.80% (increased)
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