National Average CD Rates – April 28, 2010

CD rates have been dismal for about two years now but there is hope for the future. The FOMC wraps up its two day meeting today and releases their statement on the economy. While most analysts believe the targeted Fed Funds rate will stay in the zero to one quarter percent range, the Fed's language on keeping interest rates low is expected to change.

The reason for the expected change is that the economy is expanding and non-farm payroll employment is increasing, both leading to higher inflation which will force the Fed's hand to raise interest rates. Any change of the Fed's "warrant exceptionally low levels of the federal funds rate for an extended period" will signal tighter monetary policy and higher interest rates in the near future.

Find the Best CD Rates by using our CD Rate Tables here: CDRates.MonitorBankRates.com.

Average CD Rates

• 3 month CD rates are averaging 0.444%, down from last week's rate of 0.468%.
• 6 month bank CD rates are averaging 0.715%, down from the prior week's average of 0.747%.
• 12 month CD rates at banks are averaging 0.983%, a decrease from 1.017% the previous week.
• 18 month CD rates are averaging 1.146%, down from an average of 1.208%.
• 24 month bank CD rates are averaging 1.433%, down from last week's average of 1.465%.
• 36 month CD rates at banks are averaging 1.848%, an increase from the prior week's average CD rate of 1.659%.
• 48 month rates are averaging 1.969%, down from an average of 2.066% the prior week.
• 60 month CD interest rates are averaging 2.327%, down from the prior week's average of 2.369%.