Intermediate and Long Term CD Rates Increase, Short Term Rates Move Lower
We are starting to see movement on rates as banks increase some rates while decreasing other rates. After many years of watching banks and credit unions lower CD rates, we are finally seeing some banks offer higher rates. Financial institutions are increasing intermediate and long term CD interest rates while decreasing short term rates. Their goal is to lock depositors into long term certificates of deposit while rates are still low.
Though rates are moving higher, the changes are not that dramatic. Most of the increases are 5 to 10 basis points. Any big increases in rates won't be until the Federal Open Market Committee votes to increase the federal reserve rate. Listed below are recent CD rate changes.
3 Month CD Rate Changes
6 Month CD Rate Changes
1 Year CD Rate Changes
3 Year CD Rate Changes
5 Year CD Rate Changes
Check on all certificate of deposit rates here: Best CD Rates.
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