CD Rates Rise Broadly;
12-Month Climbs to 2.840%

CD rates drifted higher almost everywhere this week. Seven of the eight tracked terms rose, and the lone decliner, the 48-month, gave up a single thousandth of a point. The benchmark 12-month climbed 0.009 points to 2.840% and extended its lead over every other term. Because the one-year rose faster than the five-year, the curve’s inversion widened again. The backdrop is unchanged: the Federal Reserve held a fourth straight time on June 17, and with its projections pointing to higher rates for longer, the whole curve is grinding up rather than turning.

📊 Full 8-term CD data: 11,881 institution-term combinations tracked across all 50 states.

NATIONAL: The best CD rates nationally drifted higher the week of July 6, 2026, in one of the most uniform weeks in months. Seven of the eight tracked terms rose and none held flat; the cross-term average ticked up to 2.608% from 2.603%. 12-month CD rates, the benchmark, added 0.009 points to 2.840%, sharing the week’s largest gain with the 18-month and stretching their lead at the top of the curve.

The benchmark and the middle led the way. The 12-month’s 0.009-point gain took it to 2.840%, and 18-month CD rates matched the move, rising 0.009 points to 2.637%. 24-month CD rates, flat a week ago, added 0.008 points to 2.678%. The belly of the curve stays bunched, with the 6-, 24-, 36-, and 18-month terms all inside a tenth of a point of one another, but this week the whole cluster shifted up together.

The short end kept firming. The 3-month added 0.008 points to 1.993%, its second straight solid gain, though it remains the clear low outlier, still just under 2% and well below everything else. The 6-month rose 0.004 points to 2.724%, holding third on the curve, a whisker behind the five-year.

Even the long end joined in, mostly. The 36-month rose 0.005 points to 2.652%, and 60-month CD rates recovered 0.004 points to 2.729% after leading the declines a week ago. The lone soft spot was 48-month CD rates, off 0.001 points to 2.613%, a move small enough to call flat, though it keeps the term at the bottom of the multiyear group. Because the one-year rose more than the five-year, the gap between them widened to 0.111 points from 0.106. The curve stays inverted, and the inversion keeps stretching.

A quick word on what these numbers are. They are national averages, drawn from rates collected directly off institution websites. What any one saver can actually get depends on where they bank and how far they are willing to shop. Someone comparing Florida CD rates, for instance, can line up the strongest in-state and online offers against this national picture and see where the gap is worth chasing.

A week where nearly everything rises together is easier to read than last week’s split, and the explanation is the same one. The Federal Reserve sets the pace, and the Fed is parked. At its June 17 meeting, the FOMC held the federal funds rate at 3.50% to 3.75% for a fourth straight time, a unanimous decision and the first under new Chair Kevin Warsh. What moved markets was the outlook: the updated projections dropped the expectation of cuts this year, and the median now implies the funds rate ends 2026 slightly higher than it sits today. Treasury yields have stayed firm since, and deposit rates are slowly repricing to that reality. When banks stop expecting cheaper money ahead, they stop shading their CD offers lower, and the averages grind up the way they did this week. The next FOMC meeting comes in late July, and until then this drift is likely the whole story.

For savers, the message is steady and, for once, mildly encouraging. Rates are inching up rather than slipping away, so there is no rush to grab a yield before it disappears. The 12-month at 2.840% is still the best rate on the board, and its lead grew this week, so a one-year term remains the sweet spot. The 60-month at 2.729% now trails the one-year by 0.111 points, the widest that gap has been, which means committing five years still costs yield rather than earning a premium. Anyone weighing where cash should sit, especially savers living off interest, faces the older question of CDs or a savings account, and with the front of the curve this strong, the CD side of that comparison keeps getting easier to make. Term-by-term history lives on the national CD rate trends page.