NEW YORK - RateWatch, a premier banking data and analytics service owned by TheStreet, Inc. (NASDAQ: TST), reported today that the 2 and 4 year CD averages each increased by one basis point as the Federal Reserve continued to keep the short-term federal funds rate at a range of zero to 0.25% since late 2008.
"Two- and four-year CD rates inched higher spurred by an aggressive European Central Bank, which cut interest rates Thursday and announced large scale bond purchases. Despite weak U.S. job numbers Friday, analysts are increasingly looking for the Federal Reserve to begin raising rates in the first half of 2015," said Dan Freed, Senior Writer for TheStreet.
NATIONAL AVERAGE RESULTS - $10K
|Avg Rate This week||Avg Rate Last week|
|1 month CD||0.11%||0.11%|
|3 month CD||0.15%||0.15%|
|6 month CD||0.23%||0.23%|
|1 year CD||0.36%||0.36%|
|2 year CD||0.56%||0.55%|
|3 year CD||0.75%||0.75%|
|4 year CD||0.94%||0.93%|
|5 year CD||1.15%||1.15%|
In the Greater Richmond Region area, the average 5-year CD rate sat at 0.97%, lower than the national average of 1.15%. Rates on the 5-year CD ranged from 0.13% on the low end to 1.81% at the high end, which can be found at Franklin Federal Savings Bank. The average 3-year CD rate in Greater Richmond Region was 0.6% with a range of 0.1% to 1.15% found at Fulton Bank, National Association. And if you are on the market for a 1-year CD, take a look at Gateway Bank & Trust Company, which currently offers a rate of 0.45% as compared to the Greater Richmond Region average of 0.23%. Other top rate issuers can be found in the tables that follow.