CD Rates – February 1, 2010

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CD rates declined again this past week, continuing the down trend of the past year and a half. 12 month CD rates are just above 1.00 percent and probably will break 1.00 percent in a week or two.

The FOMC met last week and decided to keep the Fed funds rate in the targeted range of zero percent to one quarter percent for the foreseeable future.



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CD Rates



  • 3 month CD rates at banks are at 0.499 percent this week, down from last week’s average rate of 0.504 percent. UFB Direct is offering one of the best 3 month CD rates available - the current CD rate is 1.19 percent and the APY is 1.20 percent.

  • 6 month CD interest rates are at 0.739 percent, down from the prior week’s average rate of 0.746 percent. First Century Bank is offering a 6 month CD yield of 1.75 percent.

  • 12 month certificate of deposit rates are averaging 1.008 percent, down from the previous week’s average rate of 1.015 percent. Discover Bank is offering a 12 month CD yield of 1.75 percent.

  • 18 month CD rates are averaging 1.183 percent, down from last week’s average rate of 1.193 percent. Nationwide Bank is offering an 18 month CD yield of 1.90 percent. 

  • 24 month rates are averaging 1.489 percent this week, down from the previous week’s average of 1.499 percent. AIG Bank is offering a 24 month CD yield of 2.15 percent.

  • 36 month CD interest rates are at 1.832 percent, down from the prior week’s average of 1.839 percent. Ally Bank's current 36 month CD yield is 2.49 percent.

  • 48 month CD rates are averaging 2.056 percent, down from last week’s average rate of 2.064 percent. PenFed's current 48 month CD yield is 3.25%.

  • 60 month certificate of depositsare averaging 2.344 percent, down from the prior week’s average rate of 2.353 percent. PenFed is offering a 50 month CD yield of 3.50%.


Search for the highest CD rates in your zip code here: Search for the highest CD rates here.
 
Author: Brian McKay
February 1st, 2010