{"version":"2026-cd-term-curve","name":"SwitchWize CD Term Curve","citeAs":"SwitchWize, \"Average CD Rate by Term Length.\" Retrieved August 2026.","sourcePage":"https://www.switchwize.com/research/cd-term-curve","updatedMonthYear":"August 2026","updatedISODate":"2026-08-27","curve":[{"termMonths":3,"label":"3-month","nationalAverageApyPct":1.14,"topAvailableApyPct":3.94,"gapPoints":2.8,"institutionsTracked":37},{"termMonths":6,"label":"6-month","nationalAverageApyPct":1.41,"topAvailableApyPct":4.23,"gapPoints":2.82,"institutionsTracked":60},{"termMonths":12,"label":"1-year","nationalAverageApyPct":1.71,"topAvailableApyPct":4.37,"gapPoints":2.66,"institutionsTracked":67},{"termMonths":24,"label":"2-year","nationalAverageApyPct":1.57,"topAvailableApyPct":4.35,"gapPoints":2.78,"institutionsTracked":62},{"termMonths":36,"label":"3-year","nationalAverageApyPct":1.34,"topAvailableApyPct":4.42,"gapPoints":3.08,"institutionsTracked":64},{"termMonths":48,"label":"4-year","nationalAverageApyPct":1.27,"topAvailableApyPct":null,"gapPoints":null,"institutionsTracked":0},{"termMonths":60,"label":"5-year","nationalAverageApyPct":1.3648120095546088,"topAvailableApyPct":4.42,"gapPoints":3.06,"institutionsTracked":59}],"sources":[{"label":"FDIC National Rate CD series, by term, via FRED (e.g. NDR12MCD)","url":"https://fred.stlouisfed.org/series/NDR12MCD","detail":"The FDIC's own population-weighted national-average CD rate, published per term, most recent observation 2026-08-01."},{"label":"SwitchWize tracked institution set","url":"https://www.switchwize.com/cds","detail":"Top-3-average CD rate per term across tracked institutions, from live rate_observations, bucketed by exact term match."}],"methodology":{"summary":"For each CD term, the national average is the FDIC's own National Rate series for that exact term (published on FRED, e.g. NDR12MCD for 12-month), not derived from SwitchWize's own scraped data. The top-available rate is a top-3 average across SwitchWize's tracked institutions' own rates for that exact term, from each institution's real term ladder -- no nearest-term substitution, unlike the single-term cd-spread index this dataset complements.","caveat":"Terms where fewer than 3 tracked institutions report a rate for that exact month count still compute a top average from however many are available; institutionsTracked reports the real sample size so a thin term isn't mistaken for a broad one. The FDIC series updates monthly; tracked-institution rates can change daily, so the gap between the two can look different day to day even when neither figure is stale."}}