economy
Will CD interest rates rise this April? 3 things experts say to consider now
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TL;DR
- CD rates are anticipated to hold steady in April, with minimal fluctuations expected.
- The Federal Reserve's decision to maintain the federal funds rate contributes to CD rate stability.
- Savers are encouraged to lock in current high rates, as the era of peak yields may have passed.
- Inflation and employment figures are critical indicators for the Federal Reserve when deciding on interest rate adjustments.
- Shorter-term CDs (3-12 months) currently offer more competitive rates than longer-term options.
- The highest APYs are found on 6-month CDs, averaging around 3.43%.
- Geopolitical issues and persistent inflation could influence future rate movements.
- CDs provide a safe haven during times of global uncertainty due to their fixed, predictable returns.