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 were unchanged during the week despite a sharp drop in oil prices and otherwise unremarkable economic data. The oil price drop is seen as mostly positive for the economy since it typically leads to a rise in spending on other items," 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 Cleveland Region area, the average 5-year CD rate sat at 0.95%, lower than the national average of 1.17%. Rates on the 5-year CD ranged from 0.1% on the low end to 1.75% at the high end, which can be found at Third Federal Savings & Loan Assoc of Cleveland. The average 3-year CD rate in Greater Cleveland Region was 0.47% with a range of 0.05% to 1.0% found at Dollar Bank, Federal Savings Bank. And if you are on the market for a 1-year CD, take a look at Ohio Savings Bank, which currently offers a rate of 1.05% as compared to the Greater Cleveland Region average of 0.23%. Other top rate issuers can be found in the tables that follow.