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Brian McKay

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Brian is the Co-Founder of MonitorBankRates.com. For over 18 years, he has utilized his background in enterprise infrastructure to engineer proprietary systems that track rates from over 8,000 financial institutions.

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| August 31, 2026 | 5 min read

CD Rates Move Higher on Nearly Every Term; 12-Month CDs Hold at 2.830%

CD rates rose on nearly every term this week. 3-month CD rates posted their first gain in more than a month, 18-month CD rates moved past three other terms, and 12-month CD rates held at 2.830%, still the highest average of the eight terms we track.

Most of last week's small CD rate declines reversed this week. Average average CD rates rose on every term we track except one, and the exception barely moved: 12-month CD rates eased a single thousandth of a point to 2.830% and still pay more than any other term. The two largest gains: 3-month CD rates rose 0.054 points to 1.894%, and 18-month CD rates climbed 0.046 points to 2.676%, enough to move ahead of the 6-month, 36-month, and 48-month averages in a single week.

CD rates move back up almost everywhere

Short and mid-term CD rates, national average APY since late March

Average APYs from MonitorBankRates.com's nightly collection, updated daily. Figures in the text and table are this report's verified averages and can differ slightly from the nightly series.

The week's gains were broad and mostly modest. 60-month CD rates added 0.024 points to 2.758%, recovering most of last week's decline, while 48-month CDs rose to 2.653% and 36-month CDs to 2.659%. 24-month and 6-month CDs each added a few thousandths, to 2.721% and 2.666%. The 12-month average was the only one to move lower, and by so little, 0.001, that it is unchanged for any practical purpose; at 2.830% it keeps a clear lead over every other term. Across all eight terms the average rose to 2.607% from 2.586%, most of the way back to its mid-August level.

Longer-term CD rates, national average APY since late March

Average APYs from the nightly collection, updated daily.

3-month and 18-month CDs post the biggest gains

3-month CD rates rose 0.054 points to 1.894%, the largest move of the week in either direction and the term's first increase in more than a month; it had declined in four straight reports before this one. The average is still well under 2%, and still well under every other term, but it is no longer falling. 18-month CD rates rose 0.046 points to 2.676%, and because the four middle terms sat within 0.030 points of each other last week, a gain that size reordered them: 18-month CDs moved from seventh place to fourth, ahead of the 6-month, 36-month, and 48-month averages. The 48-month average, which had edged past the 18-month a week ago, now sits 0.023 points below it. Those four terms remain closely bunched, so for most savers the practical picture holds: from six months out to four years, the market pays nearly the same rate, and the highest average still belongs to 12-month CDs at 2.830%.

Weekly change by CD term (percentage points)

This report's verified averages, August 24 to August 31. Green bars rose; red bars fell.

CD rates this week: August 24 vs. August 31

Two weeks out from the Fed's next decision

The Federal Reserve meets September 15 and 16, and for the first time in months there is real doubt about what it will do. Speaking at the Jackson Hole symposium on Friday, Fed Chairman Kevin Warsh said the central bank will "have work to do" unless inflation is clearly heading back to its 2% target, and that "the Fed's predominant focus right now should be on prices." Inflation by the Fed's preferred measure ran at 3.7% in July, and the benchmark rate has sat at 3.50% to 3.75% since December. Warsh gave no timeline and said his remarks were not a promise of anything, but futures markets moved anyway: after the speech they put the odds of a quarter-point increase in September near 60%, up from about 40% before it. Three committee members already voted for a hike in July. For CD savers, that possibility cuts both ways. A CD opened before the meeting locks a known rate no matter what follows; if the Fed does raise rates, CDs opened afterward would likely pay more. One more round of inflation and jobs data arrives before the decision.

How to earn more than the averages

At the 12-month average of 2.830%, a $10,000 deposit earns about $283 over a year. The averages are only the middle of the market, though: the strongest 12-month offers in our data now reach 6.00%, which on the same deposit is roughly $600 in a year. That range is why comparing institutions pays better than watching weekly moves. If you're new to the product, what a certificate of deposit is covers the basics, and with the middle terms still bunched, the CD ladder calculator shows what spreading a balance across several maturities earns on your actual numbers. Savers comparing local offers can line up Florida CD rates against the national averages, and term-by-term history is on our CD rate history page.

The bottom line for CD savers

Most CD terms pay slightly more than they did a week ago, and the overall shape of the market is the one savers have seen all summer: a narrow band with 12-month CDs at the top of it, now at 2.830%. 18-month CDs moved up the rankings and the 3-month average stopped falling, but neither change moves what a term is worth by more than a few dollars a year on a typical deposit. The difference between banks is still far larger than the difference between weeks; behind the 12-month average, offers in our data run as high as 6.00%.