CD Rates for December 24th, 2019

Average CD rates for December 24th, 2019 are mostly lower compared to last week's average rates. All average CD rates declined, except for average 3-month CD rates, which were unchanged. The best CD rates available on our rate lists are also lower, except for 6-month CD rates which moved higher. We don't expect any big moves either way for CD rates in the coming months, unless the Federal Reserve increases or lowers the fed funds rate which is unlikely.

What's more likely to happen in 2020 is for CD rates to continue their slow decline. Slowly declining CD rates are unfortunate because CD rates never got above their pre-Financial Crisis level of more than a decade ago. If there is a recession in 2020, we might see the highest 12-month CD rates available fall towards 1.00 percent.

BMO Harris Bank CD rates on 6-month certificates of deposit are the best deal available on our rate list. Current 6-month CD rates at BMO Harris Bank are at 1.89 percent with an APY of 1.90 percent. That rate is higher than many 12-month CD rates available today. Overall, Ally Bank is one bank that stands out with competitive CD rates on all CD terms. You can compare online CD rates with Ally Bank CD rates to get the best deal on a certificate of deposit.

Best CD Rates for December 24th, 2019

• 3-Month 1.75% down 25 bps TotalBankDirect
• 6-Month 1.90% up 5 bps BMO Harris Bank
• 12-Month 2.15% unchanged Live Oak Bank, Cross River Bank
• 24-Month 2.25% unchanged Cross River Bank
• 36-Month 2.40% unchanged Cross River Bank
• 48-Month 2.45% unchanged Cross River Bank
• 60-Month 2.25% unchanged Northpointe Bank, Live Oak, and Citizens Access

Average CD rates for December 24th, 2019

• 3-Month 0.72% Unchanged
• 6-Month 1.17% down 5 bps
• 12-Month 1.84% down 3 bps
• 24-Month 1.91% down 1 bps
• 60-Month 1.93% down 3 bps

To get the best rate and deal on a certificate of deposit compare CD rates online at MonitorBankRates.com.