Here's a look at the state of interest rates on five common consumer banking products and the latest rates from Bankrate.com's weekly national survey of large banks and thrifts conducted Nov. 26, 2008.
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CDs
Yields: 2.49 percent (1-year CD yield); 3.38 percent (5-year CD yield)
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CD investors don't have much to be thankful for this year; CD yields continued to erode for the third week in a row.
The average one-year CD yield lost 7 basis points, down to 2.49 percent. The five-year average is 3.38 percent, slipping 1 basis point from last week. The one-year jumbo average is down 2 basis points to 2.68 percent. Also down 2 basis points, the five-year jumbo is 3.46 percent. A basis point is one-hundredth of a percentage point.
Money market accounts stood their ground, losing nothing. The average yield remains 0.71 percent.
-- Laura Bruce
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CD rates in your area. |
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July 30 - Aug. 5
