Posted by Current CD Rates on 02/26/08 in Current CD Rates
We can’t be lulled into thinking that this is a turning point because, as much as the Fed may want to stop cutting short-term rates to quell inflation, they seem to be more concerned with fending off a recession.
The average yield for one-year CDs dropped 4 basis points to 2.43 percent. The five-year CD average lost 4 basis points and now stands at 2.82 percent.
Jumbos fared about the same with the one-year averaging 2.64 percent and the five-year 2.97 percent, down 5 basis points and 4 basis points; respectively.
Rates are probably heading lower in the next few months.
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