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Brian McKay

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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.

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| September 21, 2026 | 5 min read

12-Month CD Rates Climb to 2.950% After the Fed's First Rate Increase Since 2023

Average CD rates rose on nearly every term in the first CD report since the Federal Reserve raised its benchmark rate a quarter point on September 16. 12-month CD rates climbed 0.049 points to 2.950%, the largest gain of the week.

The Federal Reserve raised its benchmark rate a quarter point to 3.75% to 4.00% on September 16, and average certificate of deposit rates rose on nearly every term in the first CD report collected after the increase. 12-month CD rates climbed 0.049 points to 2.950%, the week's largest gain and 0.050 points under 3.00%. 18-month CD rates rose 0.045 points to 2.816%, and 3-month CD rates, the only average under 2%, rose for a fourth straight report to 1.976%. 60-month CD rates held nearly steady at 2.842%, the only term that did not rise.

CD rates rose on nearly every term after the Fed's increase

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.

Seven of the eight CD terms we track rose in this report. Shorter and mid-length terms gained the most: 3-month CD rates rose 0.044 points to 1.976%, 6-month CD rates 0.042 points to 2.762%, and 18-month CD rates 0.045 points to 2.816%. Among the longer terms, 24-month CD rates rose 0.024 points to 2.843%, 36-month CD rates reached 2.765%, 48-month CD rates 2.766%, and 60-month CD rates held nearly steady at 2.842%. Across all eight terms the average rose to 2.715% from 2.683%.

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

Average APYs from the nightly collection, updated daily.

12-month CD rates are 0.050 points under 3.00%

12-month CD rates climbed 0.049 points to 2.950%, their third straight gain; in our September 8 report the average was 2.864%, so it has risen 0.086 points across the two reports since. A $10,000 deposit at the 2.950% average earns about $295 over a year. Mid-length terms sit close together, from 2.762% at 6 months to 2.843% at 24 months.

Weekly change by CD term (percentage points)

This report's verified averages, September 14 to September 21. Green bars rose.

CD rates this week: September 14 vs. September 21

These are the first CD averages collected since the Fed's increase

The Federal Reserve raised its benchmark rate to 3.75% to 4.00% on Wednesday, September 16, its first increase since 2023. The vote was 12 to 0, and the statement said inflation remains elevated. A CD's rate is fixed for the full term once the CD is opened, so the increase reaches savers only through new offers, and the averages in this report were collected September 21, five days after the announcement. CDs opened before the announcement keep the rates they were opened at.

Comparing CD terms at the new averages

Our calculators run on the same live data behind this report. The CD vs high-yield savings calculator loads today's national average for each product, computed from rates published by more than 8,000 banks and credit unions and updated every day, and accepts your own rates in place of the defaults. The CD early withdrawal penalty calculator works from the same live averages and shows what an early withdrawal costs in dollars under a given penalty. The strongest 12-month offers in our data reach 6.030%, more than double the 2.950% average. Savers checking local offers can line up Texas CD rates against the national averages, and term-by-term history is on our CD rate history page.

The bottom line for CD savers

Average CD rates rose on nearly every term in the first CD report since the Federal Reserve raised its benchmark rate, with 12-month CDs at 2.950% and the average across all eight terms at 2.715%. A CD's rate is fixed for the full term once opened. Behind the 2.950% 12-month average, offers in our data run as high as 6.030%, and the APY any saver gets depends on the institution, the term, and the deposit amount.