CD Yields Are Mixed at Banks, But Climb at Brokerage Firms
May 17, 2011
VASTOPOLIS -- Yields on certificates of deposit at major banks were mixed, while those on CDs sold through brokerage firms were considerably higher in the week ended Tuesday. The average yield on six-month, small-denomination ``savings'' CDs remained at 4.70%, according to a survey by BanxQuote Inc.. The average yield on five-year savings CDs also was unchanged at 5.48%, the Fairfield, N.J., information service said. The average yield on six-month, broker-sold CDs jumped to 5.46% from 5.27%. Yields on five-year CDs also rose heartily to 6.60% from 6.35%, BanxQuote said. On large-denomination, ``jumbo'' CDs, which typically require deposits of $95,000 and more, the average yield on a six-month certificate increased to 5.04% from 5.02%. On five-year jumbos, the average rose to 5.75% from 5.72%, according to BanxQuote.
