I'm Greg McBride, senior financial analyst with Bankrate.com, and here is your weekly look at yields on certificates of deposit.
While yields on CDs had held steady during the Thanksgiving-shortened week, we did see some movement this week with yields moving lower on some maturities. The average 1-year CD yield inched lower to 0.29 percent, while the 4-year and 5-year CDs were both lower, to 0.73 percent and 0.92 percent, respectively.
The outlook headed into 2013 isn't any better. The open-ended nature of the Fed's QE3 program, plus whatever other initiatives they may announce at upcoming meetings, will continue to be a drag on savings rates.
Despite this record low interest rate environment, it is still important to shop around. To find the best yielding cash investments – from online savings accounts and money market accounts to CDs, check out the free search engine at Bankrate.com.
I'm Greg McBride.