CD Rates Hold Steady as Fed Meets Next Week to Decide Monetary Policy
The Federal Open Market Committee (FOMC) meets again next week to decide on monetary policy. If the FOMC decides to increase the fed funds rate, CD rates will also move higher. Fed Chair, Janet Yellen, is still talking up a rate hike sometime in 2015 but some Fed officials say the first hike will happen in 2016.
The final FOMC meeting for 2015 will be in December. If a hike doesn't happen next week, the FOMC has one final chance to raise the rate this year. The CME's FedWatch Tool now has a 29.2 percent chance of a hike in December, down from 35.4 percent last month.
The past several months, banks and credit unions in our rate database have been slowing increasing their rates in anticipation of a Fed rate hike. Both short term and long term CD rates have been increased by financial institutions. The increases have been small but at least rates are finally moving higher after a half dozen years of decreases.
Listed below are the highest CD rates currently available for both short term and long term certificates of deposit.
2 Month Rates/Yields
3 Month Rates/Yields
6 Month CD Rates/Yields
1 Year CD Rates/Yields
18 Month CD Rates/Yields
2 Year CD Rates/Yields
3 Year CD Rates/Yields
4 Year CD Rates/Yields
5 Year CD Rates/Yields
You can always find the most current online CD rates by searching our database of rates at Monitor Bank Rates. No personal information is required.
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