The national average rate for the five-year certificate of deposit has dropped below 1% for the first time, according to Market Rates Insight.
The average rate is 0.99%, the San Anselmo, Calif., firm said Monday its latest analysis showed.
"The five-year CD, which has always been the hallmark of high returns and stable annuities, has never dipped below 1% for as long as interest rate records are available," the firm said.
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