CD Rates Lower This Week

Average certificate of deposit rates declined again this week over last. There is hope that the future direction of CD rates will be higher since the economy is getting stronger. This past Friday, the U.S. Labor Department released monthly employment data showing the unemployment rate dropped to 10.0 percent in November from 10.2 percent in October.

Stronger economic numbers in coming months might prompt the FOMC to raise interest rates sooner than expected. Higher interest rates will drive banks to raise interest rates on deposit accounts.

Current Average CD Rates

The average 3 month certificate of deposit rate is currently at 0.548 percent this week, down from the prior week’s average rate of 0.563 percent.

The average six month CD interest rate is at 0.802 percent, down from last week’s average rate of 0.825 percent.

The average one year CD rate is at 1.079 percent, down from the previous week’s average interest rate of 1.102 percent.

Average 18 month CD rates are at 1.245 percent, down from last week’s average rate of 1.267 percent.

Average two year rates are 1.552 percent this week, down from the prior week’s average of 1.578 percent.

Three year CD rates are averaging 1.870 percent, down from the previous week’s average of 1.895 percent.

The average four year rate is 2.096 percent this week, down from last week’s average rate of 2.118 percent.

Five year interest rates are averaging 2.373 percent, down from the prior week’s average rate of 2.407 percent.

Find the Best Bank CD Rates in your zip code by searching our CD Rate Lists.