- 0.66% (1-year CD yields)
- 1.93% (5-year CD yields)
Here's a look at the state of CD rates from Bankrate.com's weekly national survey of large banks and thrifts conducted Aug. 4, 2010.
CD rates fell almost entirely across the board in this week's rate survey. If CD yields were not depressing enough already, the consistent erosion of already-low rates certainly is.
The average one-year CD yield lost 1 basis point to hit another record low, 0.66 percent. The average five-year yield tumbled 6 basis points to come in at 1.93 percent.
On the jumbo side, the one-year CD yield remains 0.71 percent. The average five-year jumbo CD yield fell 5 basis points to 1.91 percent.
The average money market account yield also lost a basis point this week and is now down to 0.2 percent.
According to Market Rates Insight, a research service for financial market rate data for financial institutions, CD rates have been falling over the past year. The average of the lowest CD rates fell 21 basis points from July last year to July 2010.
The rate analysis company reports that hardest hit have been 30-month CD rates, which fell 60 basis points in the year over year comparison.
For some of the best returns available across the country, check Bankrate's high-yield CDs and high-yield money market account tables.
All deposit products listed with Bankrate are FDIC-insured.-- Sheyna Steiner