Reviewed by

Brian McKay

Brian McKay

Co-Founder & Lead Data Architect

Expertise

• Automated Online Rate Data Aggregation
• Location-Based Rate Tables
• Bank & Credit Union Health Safety Ratings
• Bank & Credit Union Star Ratings
• Finance Calculators

Brian is the Co-Founder of MonitorBankRates.com. For over 18 years, he has utilized his background in enterprise infrastructure to engineer proprietary systems that track rates from over 8,000 financial institutions.

Read Full Bio

| September 8, 2026 | 5 min read

Average CD Rates Rise on Every Term Ahead of Next Week's Fed Meeting

Average CD rates rose on every term we track this week, the last full week before the Federal Reserve's September 15-16 meeting. 12-month CD rates reached 2.864%, their highest average of our summer reports.

What savers earn on certificates of deposit kept climbing, on average, in the run-up to next week's Federal Reserve meeting. Average CD rates rose on all eight terms we track since our August 31 report, and 12-month CD rates climbed 0.034 points to 2.864%, a higher average than at any point in our summer reports. 18-month CD rates posted the week's largest gain, up 0.043 points to 2.719%, and 24-month CD rates rose 0.041 points to 2.762%. Even 3-month CD rates, which fell through most of the summer, added a second straight gain at 1.915%.

Average CD rates rose on every term this week

Short and mid-term CD rates, national average APY since late March

Average APYs from MonitorBankRates.com's nightly collection, updated daily. Figures in the text and table are this report's verified averages and can differ slightly from the nightly series.

All eight terms we track rose this week, with no term flat and none falling. 60-month CD rates rose 0.031 points to 2.789%, above their mid-August level for the first time in our reports. 36-month CDs reached 2.688%, and 6-month and 48-month CDs now share an identical 2.680% average. 3-month CD rates added a second straight gain, 0.021 points to 1.915%, still the only average under 2%. Across all eight terms the average rose to 2.637% from 2.607%, higher than at any point in our summer reports.

Longer-term CD rates, national average APY since late March

Average APYs from the nightly collection, updated daily.

12-month CD rates set a new summer high

12-month CD rates spent August drifting between 2.830% and 2.855%, and this week they moved past that range to 2.864%, a higher average than in any of our summer reports. A $10,000 deposit at that average earns about $286 over a year. 18-month CD rates rose 0.043 points to 2.719%, their second strong gain in a row; over two reports that average has climbed 0.089 points, more than any other term's. 24-month CD rates climbed 0.041 points to 2.762%, third-highest of the eight terms behind 12-month and 60-month CDs. Mid-length terms remain closely bunched, from 2.680% to 2.719% across 6-month through 48-month maturities, so for savers in that stretch the choice still comes down to timeline more than rate.

Weekly change by CD term (percentage points)

This report's verified averages, August 31 to September 8. Green bars rose.

CD rates this week: August 31 vs. September 8

One week before the Fed decides

The Federal Reserve meets September 15 and 16, and its decision arrives Wednesday afternoon of next week. Every average we track rose in the final full week before it; whether the meeting explains the timing is more than our data can show, but it is worth noting. Futures markets have treated a quarter-point increase as a close call since Fed Chairman Kevin Warsh signaled in late August that increases may be needed, and three committee members voted for one back in July. The benchmark rate has held at 3.50% to 3.75% since December. For a saver the question is timing. A CD opened this week locks this week's rate through the decision and long past it; if the Fed raises rates, banks could lift CD offers further in the weeks after, and if it holds, this week's averages are already the highest of our summer reports. Nobody gets to know which in advance, which is an argument for deciding based on when you need the money rather than on next Wednesday.

Opening a CD the week before a Fed meeting

Savers weighing a CD against a liquid account face the clearest version of that choice this week: a CD locks a rate through whatever the Fed decides, while savings rates stay free to move either direction afterward. Our guide comparing CDs or a savings account for retirees walks through when each fits, and the CD vs high-yield savings calculator puts real numbers on the comparison for any balance. The strongest 12-month offers in our data still reach 6.00%, more than double the 2.864% average, so comparing institutions pays better than watching weekly moves. Savers checking local offers can line up New York CD rates against the national averages, and term-by-term history is on our CD rate trends page.

The bottom line before September 16

Average CD rates rose across the board in the week before the Fed meeting, and 12-month CDs now pay more than at any point in our summer reports. Next week's decision sets the direction from here: an increase could push CD offers higher over the following weeks, while a hold leaves this week's averages as the summer's peak. Differences between banks still matter far more than either outcome; behind the 2.864% average, 12-month offers in our data run as high as 6.00%.