Deciding Between Short-Term And Long-Term CDs

Long-term CDs continue to become less appealing as their rates fall more than short-term CDs. Best Cash Cow has a good review of this:

In 2010, the spread was as high as 1.55 percentage points. Or to put it another way, in 2010, 5-year CDs paid, on average 1.55 percentage points more than than 1-year CDs while today, they only pay 0.91 percentage points more.