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Will 2024 be a good year for CD investors?

Central bankers signaled in recent economic projections that they see some cuts to the Fed’s key interest rate in 2024, albeit on a scale that would still keep that rate at the highest level since 2007. The year 2024 will be a good one for CD investors, McBride says.

What will CD rate forecasts look like in 2024?

However, with the Federal Reserve cutting the federal funds rate by a half-point in September 2024, CD rate forecasts may look a bit different toward the end of 2024 and into 2025. We’ve rounded up the top banks and credit unions where you can find the highest APYs on CDs of various terms.

What is the National CD rate in 2023?

The national rate for a 12-month CD jumped to 1.86% as of December 18, 2023, according to the latest data from the Federal Deposit Insurance Corp. That rate is the highest for all of 2023 and for every year dating back to 2009, based on the FDIC’s oldest data available online. Should I Lock In a CD Rate Now?

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