Experts predict high savings and CD rates to continue despite Fed rate hikes.
TL;DR Summary
Experts predict that the Federal Reserve will pause its rate hikes, but banks may continue to push high-yield savings account APYs over 4.00% and certificates of deposit over 5.00%. Banks are likely to keep pushing rates higher to stay competitive and keep deposits, but how high will rates go, and how long will they last? Some online high-yield savings accounts can earn 5.00% APY for a limited introductory period, but unlike CD rates, savings rates may decline sooner.
- Fed Rate Hikes May Be Over for Now. But Savings and CD Rates Will Remain High, Experts Say CNET
- Top CD Rates Today, June 12, 2023 Investopedia
- With some CDs paying over 5%, don’t invest less than this amount, one pro says MarketWatch
- How the Fed's next move could affect your savings account rate CBS News
- Buying a CD? Here's Why You Want a Longer Term Rate The Motley Fool
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