CD yields continue to be whittled away thanks to rate cuts by the Fed and the overall flight to safety. The average yield for a one-year CD lost 3 basis points this week and now stands at 2.65 percent. Nevertheless, it's a considerably better deal than the one-year Treasury at 1.28 percent even when you calculate for the exemption on state and local taxes. The five-year CD average yield is unchanged at 3.45 percent.

On the jumbo side, the one-year average came in at 2.84 percent after dropping 3 basis points, while the five-year average rose 1 basis point to 3.54 percent.

If you'd like a better deal for your money, try Bankrate's high-yield CDs where you'll find many one-year CDs with yields of 4 percent or better.

Money market account yields remain unchanged at an average of 0.75 percent. There are plenty of banks offering much better yields on FDIC-insured money market accounts. You'll find them in Bankrate's high-yield money market database.

-- Laura Bruce

 See CD rates in your area.