Certificate of deposit interest rates were just fractionally lower for the week ending June 18, 2010 based on the survey of bank CD rates performed by Selectcdrates.com. National CD rates for the three month, six month and two year maturities ended the week unchanged from the prior week. The one year and five year bank CD terms contracted just slightly by the close of the week.
The average rate for the top ten highest three month term bank CDs available nationally held stable this week with average yield of 0.78%. The highest three month CD rate was also unchanged with an interest rate of 0.90%.
The top ten six month CD rate average for national CD rates was also motionless for the week. The average rate on the six month term bank CDs remained at 1.19%. The highest CD rate in the one year term was also steadfast with an interest rate of 1.25%.
The one year CD rates ended with a slight reduction in yield. The average rate of the top ten best one year CD rates was down by one basis point or 1/100 of a percent, pushing the yield down from 1.53% in the previous week to 1.52% this week. The highest one year CD was not altered and remained at 1.55%.
The two year term certificates followed the shorter term maturities and held firm for the week. The average interest rate on the top two year CDs held at 1.98%. Unfortunately, the best two year CD rate lost rather considerable ground and ended the week with a yield of 2.00% from 2.05% in the prior week.
Five year CD rates displayed the greatest activity for the week. The average rate on the top ten best five year CDs fell two basis points bringing the yield down to 3.02% from 3.04% in the earlier week. Despite the average rate reduction, the highest five year CD rate managed to hold steady with a yield of 3.15%.
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