Happy New Year! I and my team at DepositAccounts.com wish you and your family a happy, healthy and prosperous New Year. I thank all of you for your support over the last year.
I’ll be spending today with family recovering from last night’s celebrations. My Fed weekly summary and my biweekly CD rate summary will be published on Wednesday.
On Wednesday, we should see which credit unions have changed their CD rates for January. PenFed has already published new January rates. Thanks to DA reader Alan1 for reporting on these new rates in this DA Forum post. Unfortunately, PenFed didn’t increase any of their long-term CDs. Advancial Credit Union has also published their new January rates. Thanks to DA reader SYC for posting on these. Unfortunately, Advancial lowered their CD rates, with long-term CD rates falling the most.
As Alan1 noted in this DA Forum post, there was inversion yesterday on several parts of the Treasury yield curve. Banks and credit unions will probably be hesitant to raise long-term CD rates in this environment.