Crestmark Bank 1 Year CD Rates Best Rate 1.70%
CD rates have moved higher since the beginning of 2017. In early January, the top 1 year CD rate was at 1.30 percent. By April 1st, the top 1 year CD at rate moved 10 basis points higher at 1.40 percent. In July the top rate moved up to 1.50 percent.
Crestmark Bank 1 Year CD Rates
1 year CD rates at Crestmark Bank are now the best rate at 1.70%. Crestmark bank is based out of Tory, Michigan. The minimum opening deposit for a 1 year certificate of deposit is $25,000. You can read more about this bank at Crestmark Bank 1 year certificate of deposit rate.
If you don't have $25k to open a CD account, you can still get a very good online 1 year CD rate. Goldman Sachs Bank USA has the second best 1 year CD rate at 1.65% but their minimum opening deposit is only $500.
New Forecast for 1 Year CD Rates
A couple of weeks ago, we forecast 1 year rates would hit 1.75 percent this year. That is only if the Fed increased the fed funds rate once more in 2017. Now that 1 year rates are only 5 basis points away from 1.75 percent we are increasing our forecast. We now forecast 1 year CD rates will hit 1.75 regardless of whether or not the Fed increases the fed funds rate.
We are also forecasting 1 year CD rates will hit 2.00 percent if the fed increases the fed funds rate. The Fed has telegraphed one more rate hike in 2017, which is expected to happen during the December meeting. If the rate is hiked, we expect 1 year CD rates to hit 2.00 percent soon after.
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