NEW YORK - RateWatch, a premier banking data and analytics service owned by TheStreet, Inc. (NASDAQ: TST), reported today that national averages for CD rates of all durations this week remained unchanged as the Federal Reserve continued to keep the short-term federal funds rate at a range of zero to 0.25% since late 2008.
"CD rates remained unchanged across all maturities as the Federal Reserve announced the end of its bond buying program as expected Oct. 29. The statement from the Fed's policymakers was slightly more optimistic than its previous one, and surprise stimulus by the Bank of Japan ended at the end of last week drive stocks higher while boosting longer-term Treasury yields. Still, lower energy prices and continued sluggishness in Europe led to increased deflationary fears," said Dan Freed, Senior Staff Reporter 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%||0.56%|
|3 year CD||0.76%||0.76%|
|4 year CD||0.94%||0.94%|
|5 year CD||1.16%||1.16%|
In the Greater Memphis Region area, the average 5-year CD rate sat at 0.99%, lower than the national average of 1.16%. Rates on the 5-year CD ranged from 0.15% on the low end to 1.5% at the high end, which can be found at IBERIABANK. The average 3-year CD rate in Greater Memphis Region was 0.7% with a range of 0.12% to 0.95% found at Renasant Bank. And if you are on the market for a 1-year CD, take a look at First Citizens National Bank, which currently offers a rate of 0.45% as compared to the Greater Memphis Region average of 0.38%. Other top rate issuers can be found in the tables that follow.