So far CD rates have not moved much in the past month. The same leaders are sitting at the top while other major banks and other financial institutions keep cutting back their rates.

By following all of the top CDs, we can tell you that the average rates have fallen for the 24th straight month in October. Bankrate keeps track of hundreds of banks and their CD rates and every month the average rate continues to decrease. There are those few and far between moments where we find a great deal such as iGObanking’s 2.25% 2 Year CD, I don’t expect this to last much longer.

Long-term rates are being hit the hardest and while the Fed has started their new bond-buying program, interest rates are expected to fall across the board over the next many months. I do not see how our leaderboard’s rates can stay this high over the next few days and weeks.

*Term Bank November 8 Last Week
3 Month CD Nexity Bank 0.86% 0.86% APY
6 Month CD Bank of Internet 1.15% APY 1.15% APY
12 Month CD Melrose Credit Union 1.51% APY 1.51% APY
24 Month CD iGObanking 2.25% APY 2.25% APY
36 Month CD Melrose Credit Union 2.27% APY 2.27% APY
60 Month CD Melrose Credit Union 3.03% APY 3.03% APY

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