bank rates

CD Rates Take Break From Relentless Fall

Four of the five average CD rates we track remained unchanged this week, giving savers a brief reprieve from the past year’s relentless decline.

The return on 12-month certificates of deposit was theFour of the five average CD rates we track remained unchanged this week, giving savers a brief reprieve from the past year's relentless decline. only one to change — and of course it fell to yet another record low.

Bankrate’s weekly survey of large banks and thrifts taken Nov. 11 (a day earlier than usual because of Veterans Day) found the average annual yield for a:

3-month CD remained at 0.40% for the third week. That’s the lowest average since the survey began tracking 3-month CD rates in March 1989.

6-month CD fell to 0.56% from 0.57% the previous week — the lowest average since the survey began tracking 6-month CD rates in January 1984.

1-year CD fell to 0.89% from 0.91% the previous week — the lowest average since the survey began tracking 12-month CD rates in October 1983.

2-year CD remained at 1.39% for the second week — the lowest average rate since July 2003.

5-year CD remained at 2.20% for the second week. That’s slightly above the 2.15% reached in July, which was lowest average rate since the survey began tracking 60-month CDs in January 1984.

But don’t settle for average returns.

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