Average CD Interest Rates First Week of 2011
On October 8, 2010, bond yields were 2.38 percent.Yesterday 10 year yields closed at 3.48 percent. Yields were up almost 10 basis points in one day on news that hiring is picking up. A survey from payroll processor ADP found that private companies added 297,000 jobs last month, almost triple the number that economists were expecting.
CD rates probably won't move higher for at least 5 more years. Inflation is low, the jobless rate is still high and job growth is still sluggish. Until the economy picks up steam we don't expect the Federal Reserve to increase the federal funds rate. As a result, CD rates at banks and credit unions will remain low.
The current national average 12 month CD interest rate is 0.698 percent, down from the previous week's average rate of 0.709 percent. On April 12, 2010 the average 12 month rate was 1.028 percent as reported by MonitorBankRates.com.
First Week of 2011 Average CD Interest Rates
Website owners display average rates on your site by using our free widgets. MonitorBankRates.com offers free CD interest rates widgets, savings rates widgets, mortgage rates widgets, credit card rates widgets, auto loan rates widgets and free mortgage calculator widgets here: Free Widgets
Banking & Finance InformationPersonal Finance
By visiting this site, third parties may place cookies on users’ browsers for targeted advertising purposes. This data may be used by third parties to target digital advertising on other sites and networks based off of your activity. MonitorBankRates.com is an advertising-supported web publisher and comparison rate service. MonitorBankRates.com is compensated for placement of sponsored products when ads are clicked. This compensation may impact how and where products appear on this website. Not all companies or their products are listed.