I pulled my money from ING Direct about six months ago (when they paid 4.5%) and put it into Emigrant Direct at 5.05%. I have since considered slightly higher yields elsewhere but it doesn’t pencil out to be worth moving it around.

I have seen more and more banks offer better rates at 6 months compared to longer time frames and I believe they are just trying to attract new customers, knowing that once some people move their money over, it will stay put.