Certificate of deposit rates dipped again in this week's rate survey. The average one-year CD yield dropped 1 basis point to 0.37 percent. The five-year CD yield fell 4 basis points to 1.22 percent.
The average one-year jumbo CD yield is down 1 basis point to 0.41 percent. The typical five-year jumbo yield fell 4 basis points to 1.26 percent.
In this environment of rock-bottom interest rates, savers and investors are stretching for yield. In order to get higher CD rates for instance, many people simply go for longer maturities to find higher yields. The only problem with that strategy is that when interest rates increase, a saver will be stuck holding a low-yielding CD for years on end.
There are other savings instruments, and you can find the highest rates on them by visiting Bankrate.com. I'm Kristin Arnold.
Finally, some good news for savers this week.
The average four-year CD yield inched higher to 0.63 percent.
The average four-year CD yield reversed last week's decline.
There was mixed news on deposit yields this week.
Is there a glimmer of home for savers?
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A little research could save you BIG on interest.