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CD rates nationally and in your area.
CDs
- 0.44% (1-year CD yields)
- 1.61% (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. 3, 2011.
CD rates were mixed in this week's rate survey.
The average one-year CD yield stayed put at 0.44 percent for the eighth week in a row. But the average five-year CD yield fell, dropping 1 basis point to 1.61 percent.
Jumbo CD yields also were mixed. The average one-year yield stayed at 0.48 percent, but the five-year jumbo CD yield dropped 2 basis points, to 1.62 percent.
Meanwhile, the average money market account yield stayed put at 0.16 percent.
For those hoping for rising CD yields, this week's economic news didn't bode well. Not only did the Bureau of Economic Analysis revise downward its gross domestic product growth numbers for the last two quarters into almost nonexistent territory, but the debt crisis in Europe and the debt ceiling struggle in the U.S. spooked world markets, sending Treasury yields plummeting.
Movements in CD rates often mirror Treasury yields closely, so lower Treasury rates and the global flight to safety that's pushing them down don't give CD investors much room for optimism right now.