CD Rates Drop Again at GMAC Bank

GMAC Bank lowered the rates on all of its CD terms today by 5 basis points, which continues a three-week trend. At least the drop wasn't as severe as last week's. The 6-month CD now is only at 4.95% APY. Before last Friday, it had been 5.50% APY. GMAC's money market account remains at 5% APY.