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 Dec. 3, 2008.
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CDs
Yields: 2.39 percent (1-year CD yield); 3.25 percent (5-year CD yield)
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Savers, this hasn't been your day, your week or
even your year. CD yields continue to post sizable decreases each week.
The one-year average CD yield, which has declined seven weeks in a row,
is 2.39 percent, down 10 basis points from last week. The five-year average
dropped 13 basis points this week and now stands at 3.25 percent.
The jumbos are getting hit equally hard. The average one-year yields 2.56 percent this week, down 12 basis points from a week ago; while the five-year shed 8 basis points to come in at 3.38 percent. A basis point is one-hundredth of a percentage point.
Money market accounts shed 1 basis point on average
this week and are coming in at 0.7 percent.
-- Laura Bruce
See
CD rates in your area. |
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July 30 - Aug. 5
