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|
|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 Salt Lake City Region area, the average 5-year CD rate sat at 1.35%, higher than the national average of 1.16%. Rates on the 5-year CD ranged from 0.15% on the low end to 2.25% at the high end, which can be found at GE Capital Bank. The average 3-year CD rate in Greater Salt Lake City Region was 0.82% with a range of 0.05% to 1.45% found at CIT Bank. And if you are on the market for a 1-year CD, take a look at GE Capital Bank, which currently offers a rate of 1.1% as compared to the Greater Salt Lake City Region average of 0.49%. Other top rate issuers can be found in the tables that follow.