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Interest Rate Roundup   July 30 - Aug. 5
  Each week, Bankrate takes a look at the state of interest rates on five banking
  products from's weekly national survey of large banks and thrifts. 
Interest Rate Roundup

Here's a look at the state of interest rates on five common consumer banking products and the latest rates from's weekly national survey of large banks and thrifts conducted July 29, 2009.

Interest Rate Roundup
Yields: 1.10 percent (1-year CD yield); 2.15 percent (5-year CD yield)

Short-term CD yields are continuing to drop at a faster pace than their longer-term counterparts.

The average yield for a one-year CD, as surveyed by, lost 1 basis point this week and now stands at 1.07 percent. The five-year average yield held steady at 2.16. The one-year average has lost 8 basis points since July 1, while the five-year has shed 3 basis points in that time frame.

To compare, the one-year Treasury is paying 0.49 percent, and the five-year is yielding 2.66 percent. It certainly seems odd that the five-year Treasury is paying so much more than a five-year CD considering the state tax exemption on the Treasury.

Bankrate's senior financial analyst, Greg McBride, says a number of the banks surveyed just aren't competing on longer maturities when it comes to price. Good reason for you to stick with high-yielding CDs, where the five-year maturities are paying up to 3.5 percent.

The average yield for a one-year jumbo CD fell 2 basis points to 1.15 percent this week. The jumbo five-year average remains at 2.19 percent for the third week in a row.

Money market accounts held the line, with the average yield coming in at 0.36 percent for the second week in a row.

Check Bankrate's high-yield CDs and high-yield money market account tables for some of the best returns available nationwide.

All deposit accounts listed on Bankrate are FDIC-insured.

-- Laura Bruce

 See CD rates in your area.'s corrections policy
-- Posted: July 30, 2009
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