There has been a slew of CD rate changes this past week. The good news is that most of the CD rate changes were higher, there was only a handful of rate changes lower. Unfortunately, another FOMC meeting has come and gone without a fed funds rate hike.
There are two more FOMC meetings in 2016 and it looks like there might be one rate hike. The meetings are schedule for early November and mid-December. A 0.25 percent rate hike is most likely and that would put some pressure on banks to increase short-term CD rates. Analysts are betting on the rate hike happening in the December meeting.
Listed below are this week's bank CD rate and credit union CD rate changes.