On Tuesday, Market Rates Insight, a pricing consultant for banks, released a report projecting interest rate decreases this month on term deposits of 36, 48 and 60 months.
According to the report, the five-year CD yield will dip 6 basis points to 1.22 percent. The one-year CD yield is expected to fall 2 basis points.
Bankrate's weekly rate survey will be completed by this afternoon. My prediction was that the carnage resulting from Operation Twist would be mostly over by last week.
I also predicted that I was probably wrong, so at least that part was right. Since Operation Twist was announced on September 21, longer-term CD rates have fallen 5 basis points.
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