NEW YORK - RateWatch, a premier banking data and analytics service owned by TheStreet, Inc. (NASDAQ: TST), reported today that the 5 Year CD national average lost the 1 basis point it had gained last week dropping back down to 1.16 as the Federal Reserve continued to keep the short-term federal funds rate at a range of zero to 0.25% since late 2008.
"Five-year CD rates came down a basis point even as equities reached new highs," said Dan Freed, Senior Staff Reporter for TheStreet. "Shorter maturities were unchanged as fixed income yields remain punishingly low for savers by historical standards."
NATIONAL AVERAGE RESULTS - $10K
| Avg Rate This week | Avg Rate Last week | |
|---|---|---|
| Money Market | 0.15% | 0.15% |
| 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 Providence Region area, the average 5-year CD rate sat at 1.16%, lower than the national average of 1.16%. Rates on the 5-year CD ranged from 0.1% on the low end to 1.95% at the high end, which can be found at BayCoast Bank. The average 3-year CD rate in Greater Providence Region was 0.76% with a range of 0.1% to 1.01% found at Bristol County Savings Bank. And if you are on the market for a 1-year CD, take a look at Bank Rhode Island, which currently offers a rate of 0.5% as compared to the Greater Providence Region average of 0.32%. Other top rate issuers can be found in the tables that follow.
GREATER PROVIDENCE REGION AVERAGE RESULTS - $10K
| Avg Rate This week | Highest Available Rate | Highest Available Rate Issuer | |
|---|---|---|---|
| Money Market | 0.15% | 0.5% | Bank Rhode Island |
| 1 month CD | 0.1% | 0.2% | Bristol County Savings Bank |
| 3 month CD | 0.14% | 0.25% | Bank Rhode Island |
| 6 month CD | 0.2% | 0.25% | BankNewport |
| 1 year CD | 0.32% | 0.5% | Bank Rhode Island |
| 2 year CD | 0.55% | 0.75% | HarborOne Bank |
| 3 year CD | 0.76% | 1.01% | Bristol County Savings Bank |
| 4 year CD | 0.97% | 1.95% | BayCoast Bank |
| 5 year CD | 1.16% | 1.95% | BayCoast Bank |
