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This Week's CD Rate Changes
 

This Week’s CD Rate Changes

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There has been a slew of CD rate changes this past week. The good news is that most of the CD rate changes were higher, there was only a handful of rate changes lower. Unfortunately, another FOMC meeting has come and gone without a fed funds rate hike.

There are two more FOMC meetings in 2016 and it looks like there might be one rate hike. The meetings are schedule for early November and mid-December. A 0.25 percent rate hike is most likely and that would put some pressure on banks to increase short-term CD rates. Analysts are betting on the rate hike happening in the December meeting.

Listed below are this week's bank CD rate and credit union CD rate changes.

Financial Institution

ProductRate (new / old)Yield (new / old)
California First National Bank1 yr CD1.19 / 1.141.2 / 1.15
California First National Bank1 yr jumbo CD1.19 / 1.141.2 / 1.15
Discover Bank5 yr CD1.74 / 1.831.76 / 1.85
Discover Bank5 yr jumbo CD1.74 / 1.831.76 / 1.85
Discover Bank5 yr IRA CD1.74 / 1.831.76 / 1.85
Luana Savings Bank6 month jumbo0.60 / 0.550.60 / 0.55
Luana Savings Bank1 yr jumbo CD0.8 / 0.750.8 / 0.75
Luana Savings Bank5 yr jumbo CD1.5 / 1.451.51 / 1.46
Luana Savings Bank6 month $50K CD0.55 / 0.50.55 / 0.5
Connexus Credit Union2 yr CD1.49 / 1.521.5 / 1.53
E-Loan1 yr CD1.29 / 1.251.3 / 1.26
E-Loan2 yr CD1.54 / 1.491.55 / 1.5
E-Loan3 yr CD1.59 / 1.541.6 / 1.55
E-Loan1 yr jumbo CD1.29 / 1.251.3 / 1.26
E-Loan2 yr jumbo CD1.54 / 1.491.55 / 1.5
E-Loan3 yr jumbo CD1.59 / 1.541.6 / 1.55
EverBank3 yr CD1.59 / 1.51.6 / 1.51
EverBank5 yr CD1.89 / 1.841.91 / 1.86
EverBank5 yr jumbo CD1.89 / 1.841.91 / 1.86
EverBank3 yr jumbo CD1.59 / 1.51.6 / 1.51
EverBank4 yr CD1.76 / 1.741.78 / 1.76
EverBank4 yr jumbo CD1.76 / 1.741.78 / 1.76

Author: Brian McKay
September 29th, 2016