Average CD Rates Drop

The last low point for Best CD Rates was in 2003 when the average 6 month CD was earning an APY of 1.683, the 1 year was earning an APY of 2.054% and the 2 year CD was at an APY of 2.507%.

At the end of January 2011 the CD Rates were falling and they still are. The last week of January the 6 month CD was at 0.427%. Since that time it has continued in its downward movement to its present location at 3.19%.

The 1 year CD is following suit being at 0.676% APY and now dropping to 0.671%. The 2 year CD was at 1.008% and has dropped to an APY of 1.02%.

All of these current rates are far below the rates that were posted in 2003 and that bottoming out of the CD roller coaster. This has all been caused by the FED artificially keeping the interest rate low. This was done a couple of years back to give the banks the incentive to make loans.

This policy by the FED has not worked as expected. Today the banks are increasing their fees they charge their customers and are racking in record profits. They have also tighten their grip on the loans they were suppose to give out to the American consumer for receiving the tax payer funded bailout.

All American know that big business influences the policies of the federal government. What most of us did not realize until now was just how much influence they actually had. America will see a rise in CD rates once the federal government begins to represent the people again and not the interest of the few that run the large financial institutions and other large corporations. This will bring an end to the average CD rates drop and start them to rise again to respectable levels.

For additional resources about CDs on this website, please view Best Oklahoma CD Rates. We strive to bring you the latest and most accurate data possible from the home sites of the financial institutions we name. Always remember, the bigger the risk, the larger the reward or loss. Invest with caution.

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