In a recent article on TheStreet, they reported that the national averages for two-year CD rates has decreased by one basis point. As Joe Deaux, TheStreet’s Economics Analyst said,
“Two-year CD rates have witnessed the only fluctuation in the past three weeks. This is telling as Fed Chairwoman Janet Yellen last week told market observers that the central bank could begin to raise interest rates as soon as six months after the end of tapering. Yellen’s key comment coupled with the majority of policy makers forecasting the federal funds rate to reach 1% by 2015 means savers may have just received their biggest signal that rising CD rates, especially for longer durations, are at hand.”
As reported by TheStreet, those in the market will find Doral Bank as a great option for 1-year CDs. They currently offer a rate of .94% as compared to the Greater New York Region average of .39%. See the full article for more details about other top rate issuers.