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Best city for CD rates?

By Sheyna Steiner · Bankrate.com
Friday, October 12, 2012
Posted: 5 pm ET

Every week, Bankrate surveys financial institutions around the country for rates on certificates of deposit and money market accounts in addition to credit card, mortgage, auto loan and home equity rates. The Bankrate national average is published in the Interest Rate Roundup every Thursday.

While that doesn't change very much from week to week, at least not lately, CD rates can vary wildly across the 25 markets surveyed. For instance, Pittsburgh had the worst rates with the one-year CD rate at 0.14 percent on average through the month of September. The average  five-year CD rate was 0.7 percent.

A couple of different markets win for the best rates in September. The city with the highest one-year CD rates was Houston at 0.45 percent. The five-year CD rate in Houston averaged 1.21 percent for the month.

In Cincinnati, the average five-year CD rate was 1.35 percent in September.

What rates are you seeing on CDs? Are they like the CD rates in Pittsburgh or in Houston?

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Follow me on Twitter @SheynaSteiner.

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