NEW YORK - RateWatch, a premier banking data and analytics service owned by TheStreet, Inc. (NASDAQ: TST), reported today that the 5 year national CD average increased this week by 0.01 to 1.17 as the Federal Reserve continued to keep the short-term federal funds rate at a range of zero to 0.25% since late 2008.
"Markets barely reacted to the Republican-dominated midterm election results, and October's nonfarm payrolls report on Friday continued to demonstrate declining unemployment offset by stagnant wages," said Dan Freed, Senior Staff Reporter for TheStreet. "Five-year CD rates ticked higher by one basis point, to 1.17% from 1.16%, too small a move to signal any change in fixed income markets."
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 Miami Region area, the average 5-year CD rate sat at 1.04%, lower than the national average of 1.16%. Rates on the 5-year CD ranged from 0.15% on the low end to 1.99% at the high end, which can be found at EverBank. The average 3-year CD rate in Greater Miami Region was 0.77% with a range of 0.05% to 1.4% found at Firstbank Florida. And if you are on the market for a 1-year CD, take a look at AmTrust Bank, which currently offers a rate of 1.07% as compared to the Greater Miami Region average of 0.45%. Other top rate issuers can be found in the tables that follow.