Stagnant water in the pot will do it if drainage isn't good. Nitrogen deficiency can also cause a yellowing. But of course old fronds will yellow and then wither, it's a normal part of the process of senescence. So if it's only happening to the oldest then maybe not a problem.

No it seems like the new fronds are coming out (opening) with a very bright green (yellow) appearance. They look yellow to me (I'm color blind), my wife tells me they are light green.

They are in the ground but do get watered a lot. Could this be a problem. I will try to fertilize them with a quality palm fert.

You can test your soil by digging a hole, filling it with water, and seeing how long it takes to drain away. If you have a high clay content then that could be the problem. Giving it fertiliser (a good idea) won't show in the old fronds. Generally you have to watch how the new fronds look when they emerge.