Top CD Rates This Week: Highest 1 Year Rates Still Just Above 1.00 Percent
Long term bond yields continue to move higher as the best CD rates remain unchanged this week. Long term bond yields have been on a tear since the beginning of the month, 10 year, 20 year and 30 year on bonds are all up more than 30 basis points since May 1st. The Dow Jones Industrial Average (DJIA) and the Standard and Poor's 500 (S&P 500) have hit record highs more than once this month.
Shorter term CD rates and bond yields won't move higher until the Federal Reserve increases the fed funds rate which won't happen until sometime in the second or third quarter of 2014. The Fed's current target rate is zero percent to one quarter percent and will remain so until the unemployment rate falls below 6.5 percent, a full percentage point below April's unemployment rate of 7.5 percent.
The highest CD rates in our 1 year certificate of deposit rate database are from GE Capital Retail Bank at 1.04 percent with an APY of 1.05 percent. Here is a list of the best CD rates in our 1 year rate database right now:
The best 2 year CD rates in our database this week are from Home Savings Bank at 1.14% with an APY of 1.15%. Below is a list of the top 2 year rates in our database right now:
The best 6 month CD interest rates this week are from Doral Direct at 0.88% with an APY of 0.88%. Here is a list of the top 6 month rates right now:
CD rates change constantly, for a list of the most recent rates always check our rate tables. Rates are updated daily for national, regional and local bank's rates.