CDs
Yields: 1.37 percent (1-year CD yield); 2.27 percent (5-year CD yield)As expected, the Federal Reserve left the federal funds rate unchanged at the close of its meeting Wednesday -- and that will not bode well for CD rates. The added statement that "economic conditions are likely to warrant exceptionally low levels of the federal funds rate for an extended period" is a bit disheartening for CD buyers, but it's not likely that anyone expected otherwise.
The average yield for one-year CDs, as surveyed by Bankrate.com, held its ground this week, coming in at 1.37 percent. The average yield for five-year CDs fell 2 basis points to 2.27 percent.
On the jumbo side, both the one-year and the five-year shed 1 basis point, coming in at 1.48 percent and 2.31 percent, respectively.
Check out Bankrate's high-yield CDs for some of the best returns available nationwide.
The average yield for money market accounts is unchanged at 0.49 percent. Our high-yield money market account tables list several banks paying better than 2 percent.
All deposit products listed with Bankrate are FDIC-insured.
-- Laura Bruce