A certificate of deposit (CD) has long been considered a safe place to store cash. For years, CD interest rates hadn’t exactly been impressive, but they recently surged to levels not seen in over a decade. However, with the Federal Reserve's latest rate cut, this upward climb has reached its tipping point. The best CD rates, which had hovered around 5% APY for terms of six months to a year, are now starting to edge lower, and further decreases are likely in the months ahead.
Knowing what rates may do in the future can help you decide the best CD investment strategy today. Here’s what you may expect to see in the coming months.
