CD Rates Stable as Long Term U.S. Treasury Yields Tumble

CD rates have remained stable over the past month as 10 year U.S. Treasury yields have fallen almost 15 percent over the past month. 12 month CD rates at banks are averaging 0.63 percent this week, up slightly from last week's average 12 month CD rate of 0.60 percent. Last month at this time average 1 year bank CD rates were around 0.65 percent.

CD Rates Stable as Long Term U.S. Treasury Yields TumbleDuring the same time last month, 10 year U.S. Treasury yields moved above 2.00 percent after a strong employment report was released. Today 10 year Treasury yields are averaging 1.78 percent, a 27 basis point decline in a month. If yields continue to decline we also expect deposit rates to decline.

Currently in our database of 1 year certificates of deposit the best CD rates are from GE Capital Retail Bank at 1.04 percent with an annual percentage yield (APY) of 1.05 percent. We also have other banks offering 1 year rates well above the national average including OneWest Bank and Home Savings Bank both offering 1 year rates at 1.00 percent with an APY of 1.00 percent.

Other bank CD rates that are really good deals right now include Doral Bank Direct offering a 6 month CD rate at 0.88 percent with an APY of 0.88 percent. Doral Bank Direct's 6 month rate is higher than most 12 month CD bank rates available right now. The FDIC national average 6 month CD rate this week is much lower at 0.13 percent.

Below is a list of the top CD rates for all the certificate of deposit terms in our rate database this week:

  • 1 Month Rate 0.15% Lone Star Bank
  • 2 Month Rate 0.15% Virtual Bank
  • 3 Month Rate 0.46% EverBank
  • 6 Month Rate 0.88% Doral Bank Direct
  • 9 Month Rate 0.93% Doral Bank Direct
  • 1 Year Rate 1.04% APY 1.05% GE Capital Retail Bank
  • 18 Month Rate 1.05% Salem Five
  • 2 Year Rate 1.15% APY 1.16% Virtual Bank
  • 30 Month Rate 1.09% APY 1.10% Discover Bank
  • 3 Year Rate 1.35% APY 1.35% The National Republic Bank of Chicago
  • 4 Year Rate 1.55% APY 1.56% Nationwide Bank
  • 5 Year Rate 1.85% APY 1.87% The National Republic Bank of Chicago

Author: Jason P. Jones
April 4th, 2013

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