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 April 16, 2008.
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CDs
Yields: 1.92 percent (1-year CD yield); 2.75 percent (5-year CD yield)
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Very slight changes this week in CD yields, as monitored by Bankrate.com. The average yield for a one-year CD is unchanged at 1.92 percent and the five-year is up 1 basis point to 2.75 percent. The jumbos are seeing similar inertia with the average one-year yield up 1 basis point to 2.1 percent and the five-year unchanged at 2.85 percent.
Money that's been on the sidelines -- perhaps in CDs, but definitely in money market funds -- is starting to move into equities as many stocks are looking very attractive. We may see a 25 basis point cut by the Fed at the end of April; less than what some on Wall Street had hoped for, but that would be better for CDs.
-- Laura Bruce
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CD rates in your area. |
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July 30 - Aug. 5
