Average and Best CD Rates August 14, 2013
The recent increase in long term bond yields has cooled the past week while the best long term CD rates moved above 2.00 percent. Just a few weeks ago there weren't any banks offering 5 year CD rates above 2.00 percent in our database. Now there are two banks offering 5 year rates just above 2.00 percent at RatesORama.
EverBank is currently offering 5 year rates at 2.04 percent with an APY of 2.06 percent and iGObanking is offering 5 year rates at 2.03 percent with an APY of 2.05 percent. If you have a 5 year certificate of deposit maturing soon and have been shopping around for the best CD rates, these rates might seem shocking to you.
If you compare these 2 percent 5 year CD rates with the current average 5 year CD rate, you'll see these rates aren't that bad after all. 5 year CD rates at banks are averaging 0.74 percent in the FDIC's Weekly National Rates and Rate Caps for the week ending August 12, 2013. These rates are also better then the average 5 year jumbo CD rate which are currently averaging 0.77 percent in the FDIC's survey this week.
Best CD Rates on 5 Year Certificates of Deposit
Average 4 year CD rates this week are at 0.57 percent and average 4 year jumbo CD rates are slightly higher at 0.60 percent. This week the highest CD rates on 4 year CD accounts in our database are also from EverBank at 1.60 percent with an APY of 1.61. The second highest CD rate is from Intervest National Bank at 1.59 percent with an APY of 1.60 percent.
Highest CD Rates on 4 Year Certificates of Deposit
The best CD interest rates on 3 year certificates of deposit are from Intervest National Bank at 1.39 percent with an APY of 1.40 percent. The second best rate this week is from two different banks at 1.24 percent with an APY of 1.25 percent. The two banks offering this rate and yield are AloStar Bank of Commerce and Barclays Bank.
Average 3 year CD rates in the FDIC survey this week are much lower than the rates reported by RatesORama.com. The current average 3 year CD rate in the FDIC survey is at 0.45 percent. The rates in our database are also much higher than the average 3 year jumbo CD rates. The current average 3 year jumbo rate is at 0.47 percent.
Best 3 Year CD Rates
The best 2 year rates in our database are much higher at 1.14 percent. Average 2 year CD interest rates this week are at 0.33 percent and average 2 year jumbo CD interest rates are at 0.35 percent. Nationwide Bank is offering 2 year rates at 1.14 percent with an APY of 1.15 percent. The second highest rate in our database is at 1.10 percent from My e-BAnC by BAC Florida Bank and The Palladian PrivateBank.
Highest 2 Year Bank CD Rates
Average 1 year CD rates this week are at 0.20 percent while average 1 year jumbo CD rates are slightly higher at 0.21 percent. The best 1 year CD rates in our database are more than 5 times the FDIC average rate. The best 1 year rate this week in our database is from GE Capital Retail Bank at 1.04 percent with an APY of 1.05 percent.
Best CD Rates 1 Year Certificates of Deposit
RatesORama.com Average Mortgage Rates