CDs
Yields: 1.61 percent (1-year CD yield); 2.34 percent (5-year CD yield)The downward trend for yields continues, but the decline has moderated. The average yield for one-year CDs, as surveyed by Bankrate.com, is 1.61 percent, down 2 basis points from last week. The average yield for five-year CDs lost 4 basis points to come in at 2.34 percent -- not a lot of return for locking up your cash for five years.
The jumbos saw similar action with the one-year CDs losing 2 basis points, while the five-year dropped 3 basis points to yields of 1.71 percent and 2.36 percent, respectively.
We're still seeing a few one-year, high-yield CDs in the 3 percent neighborhood, but most have fallen into the 2.5 percent to 2.9 percent range. Five-year, high yield CDs are paying better than 3 percent for the most part. None of these yields are very exciting but they're considerably better than the traditional CDs. Peruse Bankrate's high-yield tables for some of the best deals available nationally.
The average yield for money market accounts fell 1 basis point to 0.53 percent. Liquidity leaves you at the mercy of the bank, but the high-yield money markets are paying four to five times the average yields.
All deposit accounts listed on Bankrate are FDIC insured.
-- Laura Bruce