CD Rates Update
Thursday, August 13, 2009 19:42The CD / Certificate of Deposit rates fell across the nation according to records through August 7, 2009, though the reduction was minimal it effected all maturities and caused a slide in CD / Certificate of Deposit rates as well that started earlier this year. To give you an update on the CD / Certificate of Deposit Market six month and one year and two year CD / Certificate of Deposit rates lowered and change of one basis point, ending at 6 month CD / Certificate of Deposit rate 1.76% and I year CD / Certificate of Deposit rate 2.07%, and 2 year CD / Certificate of Deposit rate 2.35%. The 5 year CD / Certificate of Deposit rates through Aug 7.2009 was down as well though the decline was larger for a total of 3 basis points, ending at 3.38% based on national average. The lowering of CD / Certificate of Deposit rates nationally, has increased the need to shop for better CD / Certificate of Deposit rate offerings. You can still find high yield CD’s / Certificate of Deposits if you search local in regional banks, despite the bank saving rate dropping nationally. Some examples of high of higher yielding CD / Certificate of Deposit rates available are:Illinois residents are finding 2.5% yield on 6 month CD’s / Certificate of Deposits, and 3.6% on five year CD’s / Certificate of Deposits . Another good example of higher rates being offered on CD’s / Certificate of Deposit s is Virginia residents still have some banks that are offering 2.75% on 6 month CD’s / Certificate of Deposits, and you can find 4% on 5 year CD’s / Certificate of Deposits in Missouri at some banks as well.
When looking for a good CD / Certificate of Deposit rate it is good to look at the national average to see where the market is going, though the large national banks typically offer lower rates, and the best Certificate of Deposit rates are available through local or regional banks. So keep you eyes open and look and you can still find good CD / Certificate of Deposit opportunities.
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