CD Rates Move Even Lower Over the Past Week

NEW YORK, Feb. 5, 2013 /PRNewswire/ -- RateWatch, a premier banking data and analytics service owned by TheStreet, Inc. (NASDAQ: TST) reported today that interest rates for savings products have decreased over the previous week with the national average on a 1-year, 3-year, and 4-year CD falling 0.1 percent.  Over the last 3 months, the national average on a 3-year and 4-year CD has fallen 0.05 percent based on data collected from over 90,000 financial institution locations.

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The market yield for 10-year U.S. Treasury bonds is holding at about 2.00%, but CD rates moved even lower over the past week, and look to remain at historically low levels for the time being. 

The Commerce Department said last Wednesday that the growth in the U.S. gross domestic product stalled during the fourth quarter, with a slight contraction in GDP attributed to Hurricane Sandy.  Also on Wednesday, the Federal Reserve Open Market Committee repeated, that it would be appropriate for the central bank to keep its target short-term federal funds rate in a target range of zero to 0.25% "at least as long as the unemployment rate remains above 6-1/2 percent," and as long as inflation projections remain within 0.5% of the central bank's long-term goal of 2%.

NATIONAL AVERAGE RESULTS - $10K

TOP RATE ISSUERS - $10K
This is a list of issuers with top interest rates.  The issuer's Financial Strength Rating is an independent, unbiased evaluation of quarterly regulatory statements. Institutions are assigned a letter grade of A-E with "A" representing the highest rating based on a review of many aspects of financial safety including capitalization, asset quality, profitability and liquidity.
For more information, visit www.weissratings.com/help/what-our-ratings-mean.aspx.  
Information is believed to be accurate, but not guaranteed.

Financial Strength Rating: A=Excellent, B=Good, C=Fair, D=Weak, E=Very Weak
                                                Plus sign "+" = top of range, Minus sign "-"= bottom of range

Data is surveyed weekly with averages calculated each Monday afternoon from RateWatch's unbiased national interest rate survey of over 90,000 financial institution locations across the United States.

About RateWatch 
For over 20 years, RateWatch has been the premier provider of competitive interest rate and product information to financial institutions across the United States.  Consistently providing top quality, highly relevant data RateWatch maintains the largest database in the industry with deposit, loan, and fee information monitoring over 90,000 locations. Rate surveys, product comparisons, financial strength reporting, local/regional/national averages, fee reporting, specialty reports and more are available.  To learn more about RateWatch, visit www.rate-watch.com.  RateWatch is a division of TheStreet, Inc.

About TheStreet 
TheStreet, Inc. is a leading digital financial media company that distributes its content through online, social media, tablet and mobile channels. The Company's network of brands includes: TheStreet, RealMoney, RealMoney Pro, Stockpickr, Action Alerts PLUS, Options Profits, Chat on TheStreet, MainStreet and RateWatch. For more information on TheStreet's business, visit www.t.st. For financial and business news, actionable trading ideas, stock quotes and more, visit TheStreet.com, follow TheStreet on Facebook and Twitter, and access TheStreet through all major mobile and tablet platforms.  For more information on The Deal, visit www.thedeal.com.

Contact:

Erin Corcoran
TheStreet, Inc.
212-321-5566
erin.corcoran@thestreet.com

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SOURCE TheStreet, Inc.