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Rates on certificates of deposit are different all over the country. The highest rates are typically found in areas with greater economic activity and higher loan demand. These days, Texas residents, particularly those in the Dallas and Houston areas, have access to the highest CD rates in the country, at least according to Bankrate's research.
Last month would have been a great time to look into five-year CD rates in the Lone Star State -- the highest yield available was 2 percent at BBVA Compass in Dallas and Houston. Really, 2 percent! It's a sad state of affairs when a 2 percent yield for five years seems like an amazing deal, but that's where we are.
Here are the top cities for five-year and one-year CD rates in the first week of February.
Top cities for five-year CD
| City | Bank | Rate | Yield |
| Houston | Integrity Bank, SSB | 1.88 percent | 1.9 percent |
| Philadelphia | Prudential Savings Bank | 1.85 percent | 1.85 percent |
| Cincinnati | Guardian Savings BankUnion Savings Bank | 1.82 percent1.83 percent | 1.85 percent1.85 percent |
| Phoenix | AmTrust Bank | 1.74 percent | 1.75 percent |
| Miami | AmTrust Bank | 1.74 percent | 1.75 percent |
Top cities for one-year CD
| City | Bank | Rate | Yield |
| Dallas | NexBank, SSB | 1.05 percent | 1.05 percent |
| San DiegoLos Angeles | OneWest Bank, FSBOneWest Bank, FSB | 1 percent1 percent | 1 percent1 percent |
| Houston | Beal Bank, SSB | 0.91 percent | 0.91 percent |
| DC Metro | Presidential Bank, FSB | 0.9 percent | 0.9 percent |
| Atlanta | Bank of Atlanta | 0.85 percent | 0.85 percent |
The national average for one-year and five-year CD rates according to Bankrate's National Index was 0.27 percent for a one-year CD and 0.86 percent for five years.
What are CD rates like where you live?
Follow me on Twitter: @SheynaSteiner.
The Obama economy is to blame for ALL our financial woes, and there are many. Jimmy Carter used to be the worst president ever, but he is now number 2, the smooth talking Obama has taken over first place.