NEW YORK - RateWatch, a premier banking data and analytics service owned by TheStreet, Inc. (NASDAQ: TST) reported today that national averages for four and five-year CD terms each increased by one basis point this week as the Federal Reserve continued to keep the short-term federal funds rate at a range of zero to 0.25% since late 2008.
"Four and five-year CD rates increased by one basis point each over the past week as economic data was mixed overall. An upward revision to GDP was offset by weak consumer confidence numbers Tuesday. Housing and employment data last week was generally positive," 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||0.95%||0.94%|
|5 year CD||1.17%||1.16%|
In the Greater Virginia Beach Region area, the average 5-year CD rate sat at 1.0%, lower than the national average of 1.17%. Rates on the 5-year CD ranged from 0.15% on the low end to 2.52% at the high end, which can be found at Chartway Federal Credit Union. The average 3-year CD rate in Greater Virginia Beach Region was 0.57% with a range of 0.12% to 1.46% found at Chartway Federal Credit Union. And if you are on the market for a 1-year CD, take a look at Chartway Federal Credit Union, which currently offers a rate of 0.95% as compared to the Greater Virginia Beach Region average of 0.23%. Other top rate issuers can be found in the tables that follow.