CD Rates
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Why Now Is the Perfect Time to Save with Certificates
Rising loan rates and inflation have taken a financial toll on households nationwide. Fortunately, it’s...
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THE CURRENT CD QUANDARY: Today’s yields can’t beat inflation.
CD investors are effectively losing money. According to Market Rates Insight, a research firm tracking bank rates, annualized inflation has surpassed long-term certificate of deposit rates since February. In April, 12-month inflation hit 3.16% while the highest-yielding 5-year callable CD on the market offered a 2.4% interest rate. May’s Consumer Price Index put annualized inflation at 3.6%; as of mid-June, the highest-yielding nationally available 5-year CD was at 3.05% APY.1,2,3