National CD rates for Aug. 12, 2010
Interest Rate Roundup
- 0.67% (1-year CD yield)
- 1.88% (5-year CD yield)
A new interest rate survey finds another bad week for CD rates.
The average one-year CD yield ticked up 1 basis point to 0.67 percent. The average five-year CD yield suffered though, falling 5 basis points to 1.88 percent.
In jumbos, the one-year yield held fast to last week's rate of 0.71 percent. The average five-year jumbo CD yield plummeted 6 basis points to 1.85 percent.
The average yield on a money market account is 0.2 for the second week in a row.
A recent poll from the National Foundation for Credit Counseling, or NFCC, has found that 26 percent of Americans plan to opt in to overdraft protection services offered by their banks.
The press release from the NFCC reported that banks made $37 billion from fees in 2009, more than half of which came from debit card and ATM overdrafts.
-- Sheyna Steiner