NEW YORK, Dec. 4, 2012 (GLOBE NEWSWIRE) -- RateWatch, a premier banking data and analytics service owned by TheStreet, Inc. (Nasdaq:TST) reported today that average interest rates for 1 month and 4 year CDs increased 0.01 percent while overall interest rates on savings products remain low.
The Federal Reserve has indicated that it is likely to keep its short-term federal funds target range within the current range of zero to 0.25% until at least 2014. The federal funds rate has been in this historically narrow range since late 2008.
As part of its third major round of quantitative easing announced in September, the Fed is also purchasing $40 billion in long-term mortgage backed securities each month, while continuing to purchase roughly $45 billion in long-term Treasury securities each month, while selling an equivalent amount of short-term Treasury paper, as part of its ongoing effort to hold long-term rates down, and keep the yield curve as flat as possible. This program is known as "Operation Twist."
Some analysts are expecting the Federal Reserve Open Market Committee to announce a change of direction after its next round of meetings on Dec. 11 and Dec. 12, possibly ending its monthly sales of short-term securities early in 2013. With two-year treasury notes already trading at yields of roughly 25 basis points, a Federal Reserve policy change of this type would be unlikely to push short-term rates even lower, however, an accelerated expansion of the central bank's balance sheet would likely cause a stir in Washington.
NATIONAL AVERAGE RESULTS - $10K
| This week | Last week | |
| Money Market | 0.13 | 0.13 |
| 1 month CD | 0.07 | 0.08 |
| 3 month CD | 0.11 | 0.11 |
| 6 month CD | 0.17 | 0.17 |
| 1 year CD | 0.27 | 0.27 |
| 2 year CD | 0.43 | 0.43 |
| 3 year CD | 0.58 | 0.58 |
| 4 year CD | 0.71 | 0.72 |
| 5 year CD | 0.92 | 0.92 |
TOP RATE ISSUERS - $10K
This is a list of issuers with top interest rates. The issuer's Financial Strength Rating is an independent, unbiased evaluation of quarterly regulatory statements. Institutions are assigned a letter grade of A-E with "A" representing the highest rating based on a review of many aspects of financial safety including capitalization, asset quality, profitability and liquidity. For more information, visit www.weissratings.com/help/what-our-ratings-mean.aspx. Information is believed to be accurate, but not guaranteed.
| Money Market |
Financial Strength Rating |
Minimum to Earn Interest |
APY |
| Sallie Mae Bank | |||
| 801-281-1423 | A- | 1 | 1.050 |
| www.salliemaebank.com ; | |||
| Green Bank, National Association | |||
| 713-275-8370 | C | 500 | 1.000 |
| www.greenbank.com ; | |||
| Ally Bank | |||
| 877-247-2559 | B | 1 | 0.950 |
| www.ally.com ; | |||
| 1 Month CD |
Financial Strength Rating |
Minimum to Earn Interest |
APY |
| Carter Bank & Trust | |||
| 828-325-9800 | C | 2500 | 0.750 |
| www.carterbankandtrust.com ; | |||
| First NBC Bank | |||
| 504-671-3550 | C+ | 1000 | 0.510 |
| www.firstnbcbank.com ; | |||
| Pinnacle Bank | |||
| 402-529-3581 | B- | 500 | 0.500 |
| www.pinnbank.com ; | |||
| 3 Month CD |
Financial Strength Rating |
Minimum to Earn Interest |
APY |
| Carter Bank & Trust | |||
| 828-325-9800 | C | 2500 | 0.750 |
| www.carterbankandtrust.com ; | |||
| Eloan.com | |||
| 888-533-5333 | D+ | 10000 | 0.650 |
| www.eloan.com ; | |||
| EverBank | |||
| 888-882-3837 | D | 1500 | 0.570 |
| www.everbank.com ; | |||
| 6 Month CD |
Financial Strength Rating |
Minimum to Earn Interest |
APY |
| Carter Bank & Trust | |||
| 828-325-9800 | C | 2500 | 1.000 |
| www.carterbankandtrust.com ; | |||
| Doral Bank | |||
| 212-329-3700 | E+ | 1000 | 0.910 |
| www.doralbankdirect.com ; | |||
| Beal Bank USA | |||
| 702-598-3500 | B | 1000 | 0.750 |
| www.bealbankusa.com ; | |||
| 1 Year CD |
Financial Strength Rating |
Minimum to Earn Interest |
APY |
| Beal Bank USA | |||
| 786-347-3601 | B | 1000 | 1.110 |
| www.bealbankusa.com ; | |||
| Carter Bank & Trust | |||
| 828-325-9800 | C | 100 | 1.100 |
| www.carterbankandtrust.com ; | |||
| Doral Bank | |||
| 212-584-6820 | E+ | 500 | 1.100 |
| www.doralbankny.com | |||
| 2 Year CD |
Financial Strength Rating |
Minimum to Earn Interest |
APY |
| Doral Bank | |||
| 212-584-6820 | E+ | 500 | 1.400 |
| www.doralbankny.com | |||
| First Bank of Montana | |||
| 406-357-2244 | C | 500 | 1.250 |
| www.1stbmt.com ; | |||
| FirstBank Florida | |||
| 305-740-9522 | D | 1000 | 1.250 |
| www.firstbankfla.com ; | |||
| 3 Year CD |
Financial Strength Rating |
Minimum to Earn Interest |
APY |
| First NBC Bank | |||
| 504-671-3550 | C+ | 10000 | 1.970 |
| www.firstnbcbank.com ; | |||
| Signature Bank | |||
| 646-822-1500 | B+ | 5000 | 1.660 |
| www.signatureny.com | |||
| Doral Bank | |||
| 212-584-6820 | E+ | 500 | 1.550 |
| www.doralbankny.com | |||
| 4 Year CD |
Financial Strength Rating |
Minimum to Earn Interest |
APY |
| Institution for Savings In Newburyport | |||
| 978-462-3106 | B | 1 | 1.750 |
| www.institutionforsavings.com ; | |||
| Yakima Federal Savings & Loan Association | |||
| 509-248-2634 | A- | 10000 | 1.750 |
| www.yakimafed.com ; | |||
| First Guaranty Bank | |||
| 985-345-7685 | C- | 500 | 1.700 |
| www.fgb.net | |||
| 5 Year CD |
Financial Strength Rating |
Minimum to Earn Interest |
APY |
| First NBC Bank | |||
| 504-671-3550 | C+ | 10000 | 2.120 |
| www.firstnbcbank.com ; | |||
| Institution for Savings In Newburyport | |||
| 978-462-3106 | B | 1 | 2.000 |
| www.institutionforsavings.com ; | |||
| Compass Bank | |||
| 205-297-1986 | D+ | 5000 | 2.000 |
| www.bbvacompass.com |
Financial Strength Rating: A=Excellent, B=Good, C=Fair, D=Weak, E=Very Weak
Plus sign "+" = top of range, Minus sign "-" = bottom of range
Data is surveyed weekly with averages calculated each Monday afternoon from RateWatch's unbiased national interest rate survey of over 90,000 financial institution locations across the United States.
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