Weekly CD Rates Report

Certificate of deposit rates have been low since late last fall. CD rates were driven lower when the credit crisis hit and drove the economy further into a steep recession,  forcing the FOMC to drop interest rates.

We don't anticipate CD rates turning higher until the economy is expanding again and the Federal Reserve Bank starts raising rates which will probably happen later in 2009 or early 2010.

Looking for Current CD Rates? Search for CD Rates in Your Zip Code. Current CD Rates

Finding a decent CD rate has become harder and harder as CD rates go lower and lower. MonitorBankRates.com has CD rate tables you can search for the best CD rates in your zip code. Search for the Best CD Rates.

CD Rates

12-month certificate of deposit rates are averaging 1.274 percent this week, down from the prior week's average rate of 1.285 percent. 12-month CD rates at banks can be found higher than the national average CD rate. The following banks are all offering CD yields of 2.00 percent

• Discover Bank
• Ally Bank
• AIG Bank
• HSBC Direct
• UBF
• Nationwide Bank
• PenFed (credit union)
• Giant Bank (2.01% APY)

Longer term certificate of deposit rates are not much higher. The average rate for a five-year CD is currently at 2.452 percent, down from last week's average rate of 2.454 percent.

Four-year certificate of deposit rates are averaging 2.207 percent this week, down from the prior week's average CD rate of 2.210 percent.

The average certificate of deposit rate on a three-year CD is at 1.980 percent, down from last week's average CD rate of 1.984 percent.

Two-year certificate of deposit rates are averaging 1.694 percent, down from the prior week's average two-year CD rate of 1.701 percent.

The average 18-month certificate of deposit rate is at 1.422 percent, down from last week's average rate of 1.429 percent.

The average rate on shorter term certificate rates are are all under 1.00 percent. Currently three-month CD rates are averaging 0.702 percent, down from last week's average rate of 0.712 percent.

Six-month CD rates are averaging 0.990 percent, down from the prior week's average CD rate of 1.003 percent.

Find the highest CD rates by using our CD Rate Search Engine