5 Banks Increase CD Rates This Past Week, All Rate Changes Higher
Last week the Federal Open Market Committee (FOMC) met and increased the fed funds rate by 0.25 percent. This is good news for savers since there is a direct correlation between the fed funds rate and CD rates.
4 of the 5 banks increased their CD rates after the Fed increased the fed funds rate. In fact, of the 30 CD products that rates were changed, all 30 of the changes were higher.
You can see a complete list of the CD rate changes below. You can also compare these CD rates with other bank and credit union CD rates by using our rate tables at CDRates.RatesORama.com.