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CD Deals Summary

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I want to take a moment to wish everyone a Happy Thanksgiving filled with good cheer and warm hearts. In keeping with the tradition of the holiday, one of the things I am truly thankful for is your continued interest, support, and - most importantly - trust.

Since we are not quite in full-holiday mode yet, I do want to share some interesting rate developments. The following is a holiday-shortened version of my standard CD rate summary.

Based on the yield changes of long-term Treasury notes and brokered CDs, we may be at or near peak CD rates. Even though the Fed is likely to hike rates a few more times, the markets are seeing an end of rate hikes around the first half of next year. The current odds point to a peak target federal funds rate of 5.00%-5.25% (125 bps above today’s level) that is reached around the middle of next year (per CME FedWatch Tool.)

With this Fed rate expectation, there is now some downward pressure on long-term yields. However, the Fed rate hikes are continuing to push up yields of Treasury bills and short-term CDs. This is causing the inversion of yield curves. The Treasury yield curve has become very inverted, with the 1-month yield (4.12%) rising far above the 10-year (3.71%) and the 30-year (3.74%) yields.

Brokered CD yields are following Treasury yields. Non-callable 3-, 4- and 5-year brokered CD rates have fallen from two weeks ago, and they’re now lower than most of the shorter-term CD rates. You can get much higher rates on long-term callable brokered CDs, but those will be of little value when rates start falling. The banks will surely be calling those CDs early if rates do fall in the next year or two.

Top long-term direct CDs that are available directly from banks and credit unions are now starting to be better deals than Treasury notes and brokered CDs. The decision of when it’s time to lock into long-term direct CDs will likely remain difficult as the Fed keeps hiking. We’ve already seen some top rates of long-term direct CDs fall in the last week or two. Examples include the 5-year CD at Merrick Bank (4.75% → 4.60% APY) and the 5-year CD at Pelican State Credit Union (4.97% → 4.34% APY). Expect more long-term CD rate cuts if the odds of a recession grows. A recession will cause loan demand to fall and force tighter lending standards. Banks will see less of a need to attract deposits, and that will put downward pressure on deposit rates.

You can see this flattening CD yield curve in the average online CD yield changes. In October, the average 5-year online CD yield increased 36 bps from 3.27% to 3.63%. The average 1-year online CD yield increased 46 bps from 3.15% to 3.61%. On November 1st, the average online 5-year CD yield exceeded the 1-year average by only 2 bps. I wouldn’t be surprised if this inverts by December.

These averages are based on the 5-year Online CD Index and 1-year Online CD Index which are the average yields of ten online CD accounts from well-established online banks.

Treasury Yields

The following shows how Treasury yields have changed in the last two weeks (from the market close of November 9th to the market close of November 23rd).

  • 1-month: 3.65% → 4.12%
  • 3-month: 4.29% → 4.40%
  • 6-month: 4.59% → 4.67%
  • 12-month: 4.75% → 4.75%
  • 2-year: 4.61% → 4.46%
  • 3-year: 4.49% → 4.23%
  • 5-year: 4.27% → 3.88%
  • 7-year: 4.20% → 3.81%
  • 10-year: 4.12% → 3.71%

Yields are based on the Treasury’s Daily Treasury Par Yield Curve Rates.

One advantage of Treasurys over CDs is that Treasurys are exempt from state and local income taxes. An advantage of direct CDs over Treasurys is a fixed early withdrawal penalty rather than the risk of having to sell at a large loss if rates rise substantially.

Savers who are considering buying T-bills and would like to learn how best to buy them, this TipsWatch post offers many useful details on buying them at TreasuryDirect, and this The Finance Buff post offers many useful details on buying them from Fidelity, Vanguard or from Charles Schwab. Harry Sit of The Finance Buff just published a new post on buying T-bills and T-notes on the secondary market.

Noteworthy CD Deals and Rate Changes?

Since this is a holiday-shortened CD summary, I’m not including the CD rate changes or my standard CD and savings account overview. Please leave a comment on any CD deal or CD rate change that you think is worthy of mention.

Yields Accurate as of November 23, 2022

Under 1-Year CD Rates

InstitutionRatesNotes
Andrews Federal Credit Union5.00% ($1k/$100k) 7-month Inflation Buster Share Certificate Special Easy membership
Fidelity Brokered CD4.70% (APR) 9-month non-callable CDIssued by BWB, HSTB, PNC*
The Vanguard Group Brokered CD4.70% (APR) 7-9 month non-callable CDIssued by CNBF, FFB&T, SBoIIL, TSCB*
The Vanguard Group Brokered CD4.55% (APR) 4-6 month non-callable CDIssued by MSB, MSPB*
Fidelity Brokered CD4.55% (APR) 6-month non-callable CDIssued by MSB, MSPB*
Brilliant Bank4.50% ($1k) 9-month CD (**NTS)
AFFCU4.50% ($1k) 7-month Share Certificate Special (**NTS)Easy membership
Spectra Credit Union4.44% ($5k) 7-month Share Certificate Special (**NTS)Easy membership
Merrick Bank4.30% ($25k) 6-month CD (**NTS)
Hanscom Federal Credit Union4.25% ($1k) 6-11 month CD Special (**NTS)Easy membership
Veridian Credit Union4.20% ($100k), 4.00% ($1k) 9-month Jumbo CD (**NTS)Easy membership
Popular Direct4.15% ($10k) 6-month Popular Direct CD (**NTS)Internet bank Account review
Sallie Mae Bank4.05% ($1) 14-month No Penalty CD via SaveBetter Internet bank Account review
First Capital Bank4.05% ($500) 9-month CD
Fidelity Brokered CD4.05% (APR) 3-month non-callable CDIssued by LINK*
USALLIANCE Financial4.00% ($500) 11-month No Penalty CD Easy membership
Sallie Mae Bank4.00% ($1) 10-month No Penalty CD via SaveBetter Internet bank Account review
Bask Bank4.00% ($1k) 6-month CD Internet bank Account review
The Vanguard Group Brokered CD4.00% (APR) 1-3 month non-callable CDIssued by CNBF, FFB&T, SBoIIL, TSCB*
Ally Bank3.30% (no min) 11-month No Penalty CD
CIT Bank3.30% ($1k) 11-month No Penalty CD

Noteworthy Local Deals - Under 1-Year CDs

P1FCU4.32% ($500) 7-month Special Share Certificate (**NTS)18 Idaho and 9 Oregon counties and Washington State Account review
Vibe Credit Union4.16% ($250k), 4.11% ($100k), 4.06% ($500) 6-month CD Michigan's Lower Peninsula Account review
SAFE Federal Credit Union4.09% ($1k) 9-month Share Certificate Special 7 central South Carolina counties Account review
Freedom Credit Union4.08% ($500) 6-month CD Easy membership in DC, DE, MD, NJ, PA, VA, WV Account review
Shell Federal Credit Union4.05% ($50k), 4.00% ($500) 6-Month Share Certificate Harris County, Texas Account review

1-Year CD Rates

Spectra Credit Union4.85% ($5k) 14-month Share Certificate Special (**NTS)Easy membership
The Vanguard Group Brokered CD4.85% (APR) 10-12 month non-callable CDIssued by JPMC*
Fidelity Brokered CD4.75% (APR) 1-year non-callable CDIssued by BWB, MSB, MSPB, PNC, WFB*
INSBANK Online4.65% ($2.5k) 12-month CD (**NTS)
KS StateBank4.63% ($500) 1-year CD
Merrick Bank4.60% ($25k) 12-month CD (**NTS)
Connexus Credit Union4.51% ($5k) 12-month Share Certificate (**NTS)Easy membership See review
Bread Financial4.50% ($1.5k) 1-year Bread Savings CD
CFG Bank4.50% ($500) 12-month CD Account review
American First Credit Union4.50% ($1k) 12-month CD via SaveBetter Account review
Department of Commerce Federal Credit Union4.40% ($500) 12-23 Month CD Easy membership Account review
Genisys Credit Union4.32% ($500) 13-month Certificate SpecialEasy membership See review

Noteworthy Local Deals - 1-Year CDs

P1FCU4.84% ($500) 11-month Special Share Certificate (**NTS)18 Idaho and 9 Oregon counties and Washington State Account review
Midwest Regional Bank4.50% ($1k) 13-month Bump Up CD (**NTS)St. Louis greater metro area Account review
WeStreet Credit Union4.50% ($100k) 13-month Jumbo CD (**NTS)11 Oklahoma counties Account review
Texas Trust Credit Union4.49% ($500) 13-month True Blue CD Special (**NTS)Dallas/Ft. Worth metro area Account review
Vibe Credit Union4.42% ($250k), 4.37% ($100k), 4.32% ($500) 12-month CD Michigan's Lower Peninsula Account review

18-month CD Rates

Connexus Credit Union4.85% ($5k) 15-month Share Certificate Special (**NTS)Easy membership See review
The Vanguard Group Brokered CD4.90% (APR) 13-18 month non-callable CDIssued by JPMC*
Fidelity Brokered CD4.85% (APR) 18-month non-callable CDIssued by 1stCB&T, M&T*
INSBANK Online4.72% ($2.5k) 18-month CD (**NTS)
KS StateBank4.68% ($100k) 18-month Jumbo CD
ConnectOne Bank4.65% ($500) 19-month CD (**NTS)
Brilliant Bank4.61% ($1k) 15-month CD (**NTS)
CFG Bank4.60% ($500) 18-month CD Account review
United States Senate Federal Credit UnionExpired 4.60% ($1k) 20-month Share Certificate SpecialEasy membership Account review
Blue Federal Credit Union4.60% ($1) 15-month CD via SaveBetterEasy membership Account review
SkyOne Federal Credit Union4.50% ($1) 15-month CD via SaveBetter Account review
Department of Commerce Federal Credit Union4.40% ($500) 12-23 Month CD Easy membership Account review

Noteworthy Local Deals - 18-Month CDs

Texas Trust Credit Union4.59% ($500) 15-month Promotional CD (**NTS)Dallas/Ft. Worth metro area Account review
Bogota Savings Bank4.59% ($1k) 20-month CD Special (**NTS)New Jersey See review
Merrimack Valley Credit Union4.50% ($5k) 20-month CD Special (**NTS)7 Massachusetts, 2 New Hampshire, and 2 Rhode Island counties See review
Hoosier Hills Credit Union4.50% ($5k) 15-month CD Special (**NTS)35 Indiana and 5 Kentucky counties See review
Energy Capital Credit Union4.44% ($1k) 18-month CD Special Houston, Texas area See review

2-Year CD Rates

Sallie Mae Bank5.00% ($1) 27-month High Yield CD via SaveBetter Account review
SkyOne Federal Credit Union5.00% ($1) 22-month Certificate via SaveBetter Account review
The Vanguard Group Brokered CD4.95% (APR) 2-year non-callable CDIssued by JPMC*
Fidelity Brokered CD4.90% (APR) 2-year non-callable CDIssued by M&T*
Sallie Mae Bank4.85% ($1) 23-month High Yield CD via SaveBetter Account review
KS StateBank4.73% ($1k) 27-month Jump Up CD
American First Credit Union4.65% ($1) 24-month Certificate via SaveBetter Account review
Merrick Bank4.60% ($25k) 24-month CD (**NTS)
Genisys Credit Union4.58% ($500) 25-month Certificate Special Easy membership See review
Bread Financial4.50% ($1.5k) 2-year Bread Savings CD
Mountain America Credit Union4.50% ($500) 24-month Certificate Easy membership Account review
Utah First Credit Union4.50% ($2k) 24-month Term Deposit Easy membership See review

Noteworthy Local Deals - 2-Year CDs

General Electric Credit Union5.00% ($1k) 24-month Special CD (**NTS)18 Georgia counties Account review
General Electric Credit Union4.60% ($250k) 2-year Jumbo Plus Share Certificate (**NTS)21 Ohio, 9 Kentucky, and 5 Indiana counties Account review
Academy Bank4.58% ($500) 24-month CD (**NTS)Major cities in Arizona, Colorado, Kansas, and Missouri Account review
Academy Bank4.58% ($500) 24-month CD (**NTS)AL, AZ, CA, CO, GA, IL, KS, KY, MO, NY, NV, TX, VA, WA Account review
Idaho Central Credit Union4.45% ($500) 24-month CD Promo (**NTS)Idaho and Washington State Account review

3-Year CD Rates

CFG Bank4.60% ($500) 36-month CD Account review
Merrick Bank4.55% ($25k) 36-month CD (**NTS)
Crescent Bank4.55% ($1k) 36-month CD (**NTS)
Popular Direct4.55% ($10k) 36-month Popular Direct CD (**NTS)Internet bank Account review
Bread Financial4.50% ($1.5k) 3-year Bread Savings CD
Department of Commerce Federal Credit Union4.57% ($500) 36-47 month CD Easy membership Account review
Signature Federal Credit Union4.50% ($500) 36-month Premium Certificate Easy membership Account review
Alliant Credit Union4.50% ($1k) 36-47 month Share CD Easy membership See review
Fidelity Brokered CD4.40% (APR) 3-year non-callable CDIssued by SYN*
Lafayette Federal Credit Union4.37% ($100k), 4.22% ($500) 3-year Jumbo CD Easy membership Account review
The Vanguard Group Brokered CD4.30% (APR) 3-year non-callable CDIssued by FBBWI*
Andrews Federal Credit Union4.15% ($10k) 36-month Jumbo Share Certificate (**NTS)Easy membership

Noteworthy Local Deals - 3-Year CDs

Space Coast Credit Union4.84% ($500) 33-month CD Special (**NTS)34 Florida counties Account review
The Pioneer Savings Bank4.75% ($25k) 3-year CD Special Greater Cleveland (OH) metro area See review
3Rivers Federal Credit Union4.50% ($20k) 33-month CD Special (**NTS)7 NE Indiana counties Account review
General Electric Credit Union4.30% (no min) 3-year Share Certificate (**NTS)21 Ohio, 9 Kentucky, and 5 Indiana counties Account review
National Bank of New York City4.30% ($2.5k) 36-41 month CD NYC Tri-state area See review

4-Year CD Rates

Bread Financial4.65% ($1.5k) 4-year Bread Savings CD
Merrick Bank4.65% ($25k) 48-month CD (**NTS)
Pelican State Credit Union4.61% ($500) 48-month CD (**NTS)Easy membership See review
Department of Commerce Federal Credit Union4.59% ($500) 48-59 Month CD Easy membership Account review
Crescent Bank4.55% ($1k) 48-month CD
KS StateBank4.47% ($500) 4-year CD
Popular Direct4.47% ($10k) 48-month Popular Direct CD (**NTS)Internet bank Account review
Lafayette Federal Credit Union4.47% ($100k), 4.32% ($500) 4-year Jumbo CD Easy membership Account review
Alliant Credit Union4.25% ($1k) 36-47 month Share CD Easy membership See review
Andrews Federal Credit Union4.20% ($10k) 48-month Jumbo Share Certificate Special (**NTS)Easy membership
The Vanguard Group Brokered CD4.20% (APR) 4-year non-callable CDIssued by FBBWI*
Fidelity Brokered CD4.20% (APR) 4-year non-callable CDIssued by UNIV*

Noteworthy Local Deals - 4-Year CDs

Maine Savings Federal Credit Union5.12% ($500) 50-month CD Special (**NTS)Easy membership in Maine See review
Numerica Credit Union5.00% ($1k) 48-59 month Share Certificate Washington State and Idaho North Panhandle See review
Advancial4.43% ($50k) 4-year Jumbo CD 8 Louisiana parishes and Charlotte metro area (NC) See review
National Bank of New York City4.35% ($2.5k) 48-53 month CD NYC Tri-state area See review
First Federal Lakewood4.32% ($500) 48-month CD Special Ohio See review

5-Year CD Rates

Bread Financial4.75% ($1.5k) 5-year Bread Savings CD
Department of Commerce Federal Credit Union4.70% ($500) 60-Month CD Easy membership Account review
State Bank of India (IL)4.64% ($2.5k) Senior Citizens 60-month CD
CFG Bank4.60% ($500) 60-month CD (**NTS) Account review
Merrick Bank4.60% ($25k) 60-month CD (**NTS)
Crescent Bank4.60% ($1k) 60-month CD
Interior Federal Credit Union4.60% ($100k), 4.50% ($1k) 60-month Jumbo Share Certificate Easy membership See review
Lafayette Federal Credit Union4.58% ($100k), 4.42% ($500) 5-year Jumbo CD Easy membership Account review
Michigan State University Federal Credit Union4.26% ($100k) 5-year Jumbo Certificate Easy membership Account review
Alliant Credit Union4.25% ($10k) 60-month Share CD (**NTS)Easy membership See review
The Vanguard Group Brokered CD4.20% (APR) 5-year non-callable CDIssued by UNIV*
Fidelity Brokered CD4.20% (APR) 5-year non-callable CDIssued by UNIV*

Noteworthy Local Deals - 5-Year CDs

Numerica Credit Union5.00% ($1k) 48-59 month Share Certificate Washington State and Idaho North Panhandle See review
Advancial4.61% ($50k) 5-year Jumbo CD 8 Louisiana parishes and Charlotte metro area (NC) See review
TruMark Financial Credit Union4.55% ($75k) 60-month Jumbo CD 5 southeast Pennsylvania counties See review
TruMark Financial Credit Union4.50% ($500) 60-month CD Special 5 southeast Pennsylvania counties See review
National Bank of New York City4.35% ($2.5k) 60-month CD NYC Tri-state area See review
General Electric Credit Union4.35% (no min) 5-year Share Certificate (**NTS)21 Ohio, 9 Kentucky, and 5 Indiana counties Account review

Over 5-Year CD Rates

Department of Commerce Federal Credit Union4.70% ($500) 60-84 Month CD Easy membership Account review
KS StateBank4.47% ($500) 7-year CD
Michigan State University Federal Credit Union4.31% ($100k) 7-year Jumbo Certificate Easy membership Account review
First National Bank of America4.30% ($1k) 84-month CD
First National Bank of America4.30% ($1k) 72-month CD
Liberty Federal Credit Union (formerly Evansville Teachers Federal Credit Union)4.30% ($1k) 6-year CD Easy membership Account review
Discover Bank4.25% ($2.5k) 10-year CD
Discover Bank4.25% ($2.5k) 7-year CD
Northrop Grumman Federal Credit Union4.05% ($40k) 84-month Bonus Term CD Easy membership Account review
PenFed Credit Union3.80% ($1k) 7-year Money Market CertificateEasy membership Account review

Noteworthy Local Deals - Over 5-year CDs

Diamond Credit Union4.06% ($100k) 60-month Jumbo Certificate 4 southeast Pennsylvania counties Account review
Diamond Credit Union4.01% ($1k) 60-month Share Certificate 4 southeast Pennsylvania counties Account review
Campus Federal4.00% ($1k) 72-month CD Easy membership in Louisiana Account review
Randolph-Brooks Federal Credit Union3.97% ($1k) 84-month CD San Antonio and Austin, Texas areas Account review
KEMBA Financial Credit Union3.80% ($500) 84-month Share Certificate San Antonio and Austin, Texas areas Account review
APGFCU3.70% ($25k) 84-month Super CD Baltimore, Cecil, and Harford Counties, Maryland Account review

*1stCB&T (First-Citizens Bank and Trust Co ), BWB (Bankwell Bank), CNBF (City National Bank Miami), FBBWI (First Business Bank WI), FFB&T (First Farmers Bank & Trust Company IN), HSTB (Homestreet Bank), JPMC (JPMorgan Chase Bank), LINK (LINKBANK), Morgan Stanley Bank (MSB), Morgan Stanley Private Bank (MSPB), PNC (PNC Bank), SBoIIL (State Bank of India IL), SYN (Synchrony Bank), TSCB (TriState Capital Bank), UNIV (University Bank), WFB (Wells Fargo Bank)

**New To Summary, as of November 23, 2022

Nationally Available Add-On CD Rates

InstitutionRatesNotes
Mountain America Credit Union4.50% ($5 min/$100k max) 24-month Growth CD Unlimited deposits throughout term, min $10 automatic monthly deposit Account review
Navy Federal Credit Union4.25% ($50 min/$3k max) 12-month Special Easy Start CDUnlimited deposits throughout term, checking relationship, direct deposit
Rising Bank4.20% ($5k min) 18-month Rising CDOne additional deposit during term
Liberty Federal Credit Union (formerly Evansville Teachers Federal Credit Union)4.05% ($25) 1-year Save to Win CertificateUnlimited deposits throughout term Account review
Mountain America Credit Union4.00% ($5 min/$100k max) 60-month Growth CDUnlimited deposits throughout term, min $10 automatic monthly deposit Account review
Mountain America Credit Union4.00% ($5 min/$100k max) 18-month Growth CD Unlimited deposits throughout term, min $10 automatic monthly deposit Account review
Mountain America Credit Union3.80% ($5 min/$100k max) 48-month Growth CDUnlimited deposits throughout term, min $10 automatic monthly deposit Account review
Navy Federal Credit Union3.80% ($100 min) 18-month Easy Start CDUnlimited deposits throughout term
Rising Bank3.80% ($10k) 26-month Rising CD One additional deposit during term
Mountain America Credit Union3.70% ($5 min/$100k max) 36-month Growth CDUnlimited deposits throughout term, min $10 automatic monthly deposit Account review
Navy Federal Credit Union3.70% ($100 min) 12-month Easy Start CDUnlimited deposits throughout term
Bank5 Connect3.30% ($500 min) 24-month Investment CDUnlimited deposits throughout term
Michigan State University Federal Credit Union3.26% ($100k) 1-year Add-On Jumbo CDA total of $10k in additional deposits per member
AgFed Credit Union3.25% ($25) 24-month Asset Builder CertificateUnlimited additional deposits of any amount Account review
Bellco Credit Union3.15% ($2.5k) 36-month Smart Move CDOne-time additional deposit of $100+, one partial withdrawal allowed, $1k min must be maintained Account review
Navy Federal Credit Union3.15% ($100 min) 24-month Easy Start CDUnlimited deposits throughout term
AgFed Credit Union3.00% ($25) 18-month Asset Builder CertificateUnlimited additional deposits of any amount Account review
Michigan State University Federal Credit Union3.00% ($50) 1-year Add-On CDA total of $10k in additional deposits per member)
Blue Federal Credit Union3.00% ($1k) 30-month Expandable CDUnlimited deposits throughout term
AgFed Credit Union2.90% ($25) 12-month Asset Builder CertificateUnlimited additional deposits of any amount Account review
My Banking Direct2.50% ($500) 12-month CDUnlimited additional deposits Account review
Credit Human2.15% ($5k) 12-month Liquid CDEasy membership Account review
Pen Air Federal Credit Union1.45% ($500 min) 15-month Add-On CDUnlimited deposits throughout term
Heartland Credit Union (KS)1.15% ($100k), 1.10% ($25k), 1.05% ($500 min) 30-Month Add-On CDUnlimited deposits ($500 min) throughout term
Vibrant Credit Union0.80% ($100 min) 5-Year Add-On CDUnlimited deposits throughout term

CDs Removed Due To Low Rates Or Expired Specials

CDs Removed, No Longer Available

Gesa Credit Union4.07% ($500) 7-month Certificate Special Washington State, 10 Idaho and 12 Oregon counties Account review

CDs Removed, Rate Too Low

NASA Federal Credit Union4.00% ($10k) 9-month Share Certificate SpecialEasy membership
Idabel National Bank3.90% ($1) 9-month CD via SaveBetter Account review
First Internet Bank3.87% ($1k) 6-month CD Account review
NASB3.82% ($5k) 7-month CD
Communitywide Federal Credit Union3.75% ($1k) 6-month Term Share Certificate Easy membership Account review
Lafayette Federal Credit Union3.29% ($500) 7-month Fixed CDEasy membership Account review
PSECU3.00% ($500) 9-month CD Easy membership Account review
Poppy Bank4.00% ($1k) 9-month CD California Account review
State Bank of India (IL)4.43% ($2.5k) Senior Citizens 12-month CD
State Bank of India4.42% ($25k) 12-month Senior Citizen CD
Banesco USA4.40% ($1.5k) 12-month CD
Justice Federal Credit Union4.25% ($100k), 4.15% ($500) 12-month Special Certificate Easy membership Account review
GTE Financial4.13% ($500) 12-month Share Certificate Easy membership See review
Abound Credit Union4.00% ($500) 11-month CD Speciall Easy membership See review
Energy Capital Credit Union4.33% ($1k) 12-month CD SpecialHouston, Texas area See review
Gesa Credit Union4.13% ($500) 13-month Certificate Special Washington State, 10 Idaho and 12 Oregon counties Account review
Sullivan Bank4.11% ($1k) 13-month CD Special Missouri See review
Freedom Credit Union4.08% ($500) 12-month CD Easy membership in DC, DE, MD, NJ, PA, VA, WV Account review
Banesco USA4.40% ($1.5k) 18-month CD
Sallie Mae Bank4.35% ($25k) 18-month CD Internet bank Account review
Connexus Credit Union4.31% ($5k) 15-month Certificate Special Easy membership Account review
CIT Bank4.25% ($1k) 18-month Term CD
NASA Federal Credit Union4.05% ($10k) 15-month Share Certificate Special Easy membership
Mid Penn Bank4.10% (no min) 1.5-year CD Pennsylvania See review
Freedom Credit Union4.08% ($500) 18-month CD Easy membership in DC, DE, MD, NJ, PA, VA, WV Account review
First Central Savings Bank4.08% ($500) 17-month In-branch CD Long Island, Brooklyn, and Queens (New York) See review
Idaho Central Credit Union3.50% ($500) 18-month Promo CD Idaho and Washington State Account review
DayMet Credit Union3.20% ($1k) 18-month CD 10 southwest Ohio counties Account review
NASB4.50% ($5k) 24-month CD Special
State Bank of India (IL)4.43% ($2.5k) Senior Citizens 24-month CD
Gesa Credit Union4.25% ($500) 25-month Certificate Special Washington State, 10 Idaho and 12 Oregon counties Account review
Park Community Credit Union 4.25% ($500) 24-month Bump Share Certificate 25 Kentucky and 2 Indiana counties Account review
Sullivan Bank4.22% ($1k) 25-month CD Special Missouri See review
AMOCO Federal Credit Union4.18% ($1k) 24-month CD Special Great Houston and Galveston area Account review
First Central Savings Bank3.56% ($500) 22-month In-branch CD Long Island, Brooklyn, and Queens (New York) See review
Sallie Mae Bank4.50% ($2.5k) 36-month CD Account review
KS StateBank4.47% ($500) 3-year CD
State Bank of India (IL)4.43% ($2.5k) Senior Citizens 36-month CD
State Bank of India4.42% ($25k) 3-year Senior Citizen CD
GTE Financial4.13% ($500) 36-month Share Certificate Easy membership See review
Mid Penn Bank4.25% (no min) 3-year CD Pennsylvania See review
Advancial4.13% ($50k) 3-year Jumbo CD 8 Louisiana parishes and Charlotte (NC) metro area See review
Freedom Credit Union4.08% ($500) 36-month CDEasy membership in DC, DE, MD, NJ, PA, VA, WV Account review
State Bank of India4.47% ($25k) 4-year Senior Citizen CD
First Internet Bank4.33% ($1k) 48-month CD Account review
Synchrony Bank4.30% (no min) 48-month CD Internet bank Account review
Capital One4.20% (no min) 48-month 360 CD
NASA Federal Credit Union4.10% ($10k) 49-month Share Certificate Special Easy membership
Latino Credit Union4.05% ($200k), 3.70% ($100k) 48-month Jumbo CD Easy membership See review
TruMark Financial Credit Union4.30% ($75k) 48-month Jumbo CD 5 southeast Pennsylvania counties See review
TruMark Financial Credit Union4.25% ($500) 48-month CD Special 5 southeast Pennsylvania counties See review
State Bank of India4.58% ($25k) 5-year Senior Citizen CD
Sallie Mae Bank4.55% ($2.5k) 60-month CD Internet bank Account review
GTE Financial4.07% ($500) 60-month Share Certificate Easy membership See review
KS StateBank4.47% ($500) 5-year CD
Firefighters & Company Federal Credit Union4.18% ($500) 60-month Money Market Share Certificate 3 Ohio Miami Valley counties Account review
Marcus by Goldman Sachs3.70% ($500) High-Yield 6 Year CD

Post Publication Edits

11/23/2022: USSFCU's 20mo CD Special ended.

Related Pages: 1-year CD rates, 5-year CD rates, nationwide deals, Internet banks
Comments
sharon907
  |     |   Comment #1
I am thankful I have the patience to wait for Handles of Five and Six!

Forward Together!
remrem
  |     |   Comment #2
Happy Thanksgiving!

Sharon907, I share your hope, but not necessarily your optimism. I would love to hear rational fact based arguments, both pro and con, as to whether long term (4+ years) CD rate peaks are now in the rear view mirror, or if a bit more patience will pay off?
deplorable_1
  |     |   Comment #5
I'm thankful that I'm making 5-7% in CD's right now with the bank's money using 0% no fee balance transfers among other strategies. I'm also thankful that I have patience to put up with snarky comments from people who refuse to apologize when they are wrong due to a lack of maturity......I'm tired oh it looks like our time is up - Frasier Crane ; )
https://www.youtube.com/watch?v=EbjDX6hJLh8
Mak
  |     |   Comment #8
Dep.... don't worry, you don't have to apologize...;)
sharon907
  |     |   Comment #9
Dr D # 5

your apologies are always welcome.

thank you.

you are doing great.  i only wish you would share some of your tricks.  but i know they are valuable.

ttfn.
111
  |     |   Comment #15
D1 - I hear you. It can be difficult to deal with those who refuse to apologize - even when they accuse you of “misquoting” them, when in reality all you've really done is literally copy-and-paste their own quotes right back at them! Clearly it is they who should apologize, but they don't. Sad...

The irony, of course, is that these folks typically have tons of “ideological views” to express, but precious little in the way of actual boots-on-the ground logistical advice on how to deal with the various FIs that the DA.com constituency interacts with. And, to be frank, attempts to make money from.

Again … sad.
Mak
  |     |   Comment #23
111... don't be sad, cheer up...Happy Thanksgiving to you and everyone else on the blog.
Mak
  |     |   Comment #7
That's why I ladder my CDs, when one comes out I put it back in the highest rate I can find. The problem with waiting to try and get the top rate is you might not realize that you missed the top rate. Personally I'm not so sure the 10 year rate is done with, I'm watching support at 3.4% but I have to admit not looking good at the moment.....I'm also disappointed that oil is dropping...;)
111
  |     |   Comment #17
... "I'm also disappointed that oil is dropping."

So am I, Mak, but probably for different reasons! (lol)
Mak
  |     |   Comment #20
I know your reason....;)
Now that I think of it it, it's either because high oil prices are bad for the democrats or it could possibly be because you're invested in oil stocks...I'm guessing it's the oil stocks.
111
  |     |   Comment #27
Actually Mak, you hit on one of those rare-but-illustrious “1-stone, 2-bird” scenarios. Both of your assumptions are true.
ChrisinFlorida
  |     |   Comment #43
I have heard you say that before and decided to take what was best and highest/longest via brokered CDs at Fidelity. 4.85 for 4 years and 4.9 for 3 was what grabbed and prior to settlement watching.... nearly no longer durations and far lower rates. That said I locked at 3.55 this summer and while not particularly attractive comparatively, it is what it is. I am more interested in averaging my cash into equities via index funds and select etfs. Happy Thanksgiving all! Maybe in April when I have more funds rates will be 6% but I highly doubt it.
PabloSavin
  |     |   Comment #3
Ken, Thanks for all you do. Been playing the CD game for 35 years. You have been a great help. Also thanks to all those who comment. I really appreciate it. Money discussions are better with like minded folks.
111
  |     |   Comment #4
Ken -

Possibly a typo in the article above - I'm pretty sure ALL of the Navy FCU “Easy Start” (add-on) certificates have a $50 minimum, not $100.

Also, have a great Thanksgiving, and thanks for this website!
5in1
  |     |   Comment #188
Ken have CD’s at 3.4 maturing 2024. Most are ewp 360 - I know - if I go for higher rates bite the bullet
ewp, any suggestions
Andy_BE
  |     |   Comment #6
Since most likely the CD rates have peaked and with the possible recession, what duration of CDs would the users advise? 2, 3, 4, 5, 6+ years?
sams1985
  |     |   Comment #12
I'm struggling with this question too. I'm still in the wait camp, but the chorus on DA is growing that the end is here...what to do now? Just scoop up a 4% 5 year ???
John19
  |     |   Comment #16
Alliant, Synchrony, Navy Fed, Amex have all raised their long-term CDs slightly in the last few days, those rates should stick around until mid-December while you wait.
111
  |     |   Comment #22
Andy_BE - To attempt to provide an answer your question - in the last several months I've loaded up on nearly every add-on CD that DA.com has listed as a “top X of list” entity, for the purpose of rate insurance. As we all know by now, only a few have been long-term (MACU comes to mind, and of course it has a cap) due to yield curve inversion. Why? Fear of Fed-induced recession, of course. Nonetheless my view is that a few extra bucks “lost” in “opportunity cost” is minimal. Unless outrageously expensive, add-on CDs as rate insurance are always a good buy.

But that's also my way of saying that since I really don't know for certain what the h*ll is coming re. rates - I'm just buying what I consider “cheap” rate insurance
milty
  |     |   Comment #60
Of course, depending how much you have to invest and/or what you already have invested in CDs, you may want to ladder across all those various durations. Personally, because the majority of my CDs mature in 2024, I would tend towards longer term CDs like 5 years, especially given the Fed's recent predilection for ZIRP. As the song says, "Get It While You Can." However, I think 111's suggestion for using an add-on is an excellent one for insurance against rates dropping, especially if you're still willing to gamble that rates will hold and may continue to climb, which the current Treasury Bond rates don't appear to agree with.
Mak
  |     |   Comment #66
milty... Happy Thanksgiving Are you a member of Navy Federal?
milty
  |     |   Comment #69
Hi Mak, Happy Thanksgiving. I am not a member.
Mak
  |     |   Comment #88
milty... If you were a member I was going to private message you a tip to use.
Mak
  |     |   Comment #10
Let's not forget the fed's balance sheet is still at $8,625 billion so if we take the fed at it's word(which we know we can't) then they still have quite a bit of tapering to do....only problem seems that the fed thinks it can't do too much more without causing financial instability....isn't that a surprise...;)
lostsoul
  |     |   Comment #13
yup.. holding on a little longer.. have a good thanksgiving peoples...
sams1985
  |     |   Comment #11
I find it so odd that CD rates can rise/peak/decline basically in 1 week span without any real shred of tangible news/evidence when this has been going on for months.
deplorable_1
  |     |   Comment #14
Happy Thanksgiving everyone! If you can't find a turkey or afford one due to Biden's inflation and "supply chain shortages" there is always tofurkey. ; )
https://www.youtube.com/watch?v=-Qvwfy0MVJw
Oh and if you do find one just make sure it's cooked all the way. lol
https://www.youtube.com/watch?v=W7vM5QX3nA8
govegan
  |     |   Comment #18
"The human appetite for animal flesh is a driving force behind virtually every major category of environmental damage now threatening the human future - deforestation, erosion, fresh water scarcity, air and water pollution, climate change, biodiversity loss, social injustice, the destabilization of communities and the spread of disease." - The World Watch Institute
GregoryG
  |     |   Comment #48
Climate change hoax. You and your orange leader are both idiots
govegan
  |     |   Comment #54
"The study, published in the journal Science, created a huge dataset based on almost 40,000 farms in 119 countries and covering 40 food products that represent 90% of all that is eaten. It assessed the full impact of these foods, from farm to fork, on land use, climate change emissions, freshwater use and water pollution (eutrophication) and air pollution (acidification).

“A vegan diet is probably the single biggest way to reduce your impact on planet Earth, not just greenhouse gases, but global acidification, eutrophication, land use and water use,” said Joseph Poore, at the University of Oxford, UK, who led the research. “It is far bigger than cutting down on your flights or buying an electric car,” he said, as these only cut greenhouse gas emissions.

“Agriculture is a sector that spans all the multitude of environmental problems,” he said. “Really it is animal products that are responsible for so much of this. Avoiding consumption of animal products delivers far better environmental benefits than trying to purchase sustainable meat and dairy.”

The analysis also revealed a huge variability between different ways of producing the same food. For example, beef cattle raised on deforested land result in 12 times more greenhouse gases and use 50 times more land than those grazing rich natural pasture. But the comparison of beef with plant protein such as peas is stark, with even the lowest impact beef responsible for six times more greenhouse gases and 36 times more land."
Rosedala
  |     |   Comment #98
To Comment #48:

"You and your orange leader are both idiots"...

Pray, what's the color of YOUR IDIOT LEADER???
lou
  |     |   Comment #25
Thanks for the laughs. Going to buy a steak after reading your comment.
govegan
  |     |   Comment #52
“The real struggle in being vegan doesn't involve food. The hardest part about being vegan is coming face-to-face with the darker side of humanity and trying to remain hopeful. It's trying to understand why otherwise good and caring people continue to participate in needless violence against animals - just for the sake of their own pleasure or convenience.” -Jo Tyler
deplorable_1
  |     |   Comment #82
Why is it that vegans feel the need to push their lifestyle choice on the rest of the population? Using guilt and climate change propaganda as always. The fact is that although eating too much meat that is high in saturated fat is bad it also contains necessary fats and protein which is healthy for the body. I am perfectly healthy exercise daily and take 0 meds just supplements for health.

As for the environment I am very pro environment and am for organic free range humane farming and very anti-pollution. I'm a camper/kayaker/hiker etc. and I am constantly picking up plastic water bottles and stupid covid masks probably tossed out by all the caring environmentalist liberals out there.

The whole climate change thing is BS and just a part of the depopulation agenda to "save the planet". All you need to do to figure this out is to expand the time frame for the global temperature changes. They only focus on a specific time period so it shows temps rising. It would be like only focusing on a stock chart when the stock price is going up and coming to the conclusion that the stock only rises and never falls. It's brainwashing and propaganda and it's sad to see so many falling for it.

As always I'm an independent thinker and never follow the crowd or group think about anything so don't be offended by anything I post or surprised if I might have a different point of view than anything you have heard before. You can't put me in a cookie cutter Republican/conservative/Trump supporter box I have my own opinion and do my own thing.
ChrisinFlorida
  |     |   Comment #44
I nearly choked on my cheeseburger, thank you for the laugh. Happy Thanksgiving!
govegan
  |     |   Comment #55
If you think your taste buds are so incredibly important that their pleasure outweighs the entire life and suffering of an innocent being, I don’t even know how you can get offended when people question your morals.
Rosedala
  |     |   Comment #63
#18 GoVegan, thumbs up for saying it like it is my friend, in a sea of indiffent souls here. I've been a vegan of decades and in my ripe old age enjoy total good health as a result, especially mental health. This is the "Thank You" note from the animals to us Vegans.

You, Deplorable_1, while I voted for your (otherwise) good messages...I thought those videos were of terrible taste. I'd love to see certain humans coming back as animals, say.....a turkey? and be chased by an indifferent (for want of a more proper name) individual with an hax raised ready to chop your head. Or WORSE, being one of many scandalously made to be born there and raised and killed at the infamous farm animal factories. Respect those of us who respect nonhuman animals because...WE ALL ARE ALSO ANIMALS. Happty Thanksgiving GoVegan! :)
deplorable_1
  |     |   Comment #83
I'm a Christian so humans don't come back as animals and we didn't come from monkeys either. Sorry if that offends you but my beliefs are something that's not up for negotiation. I do respect other people's personal opinions and beliefs but that respect must be a 2 way street.
Mak
  |     |   Comment #90
Wow dep, you're an expert on quite a few things...lol
Rosedala
  |     |   Comment #94
So sir, deplorable_1, the Christian dead are either kept company with saints above or with devil below? Where will you be sent? And no, I'm not offended, excuse me while I chuckle. The ape descendance belief at least has some scientific logic. The other theories sound simplistic even puerile to me. BUT….

….what I said was “I WISHED” that an individual WHO LAUGHS at the suffering of a nonhuman animal being tortured and murdered, did come back as one of those animals you eat (and wear, etc.) so you could actually feel in your own flesh what’s like being USED for human animals’ conveniences. I’m ending this subject and also wish you well. ??

P.S. I'm in the most part with you, politically.
Rosedala
  |     |   Comment #95
NOTE: Those 2 queston marks are in error. NOT part of the last sentence.
CDsuckers
  |     |   Comment #121
Here's a link that solves the problem.
https://www.amazon.com/Jeffrey-Dahmer-Cookbook-Stinky-Buckets/dp/B0BHKZFRQH
Mak
  |     |   Comment #21
An outbreak of Highly Pathogenic Avian Influenza in chicken and turkey flocks has spread across 24 U.S. states since it was first detected in Indiana on Feb. 8, 2022. Better known as bird flu, avian influenza is a family of highly contagious viruses that are not harmful to wild birds that transmit it, but are deadly to domesticated birds. As of early April, the outbreak had caused the culling of some 23 million birds from Maine to Wyoming.
111
  |     |   Comment #26
Not a problem, Mak, we just got some great boneless whole pork loin for $1.49/lb. here in Illinois. Now just looking for some poor local starving artist to carve and paste it into something that more-or-less looks like a turkey! Problem solved...
Mak
  |     |   Comment #29
You're from Illinois? Well what do you know, I'm from Illinois also, lived in the Chicago suburbs for 47 years before we moved here.
111
  |     |   Comment #30
Somehow I had you associated with California... So you moved there from IL?
Mak
  |     |   Comment #31
I moved from Illinois to Arizona, never lived in California.
111
  |     |   Comment #33
OK. Don't know how I got that idea. In any case, we live in what the "Chicago-area" folks who live above I-80 call "downstate" Illinois, even though we're in the exact center of the state.
Mak
  |     |   Comment #113
111...#33. I was born in Chicago but moved to the north side suburbs when I was pretty young... worked all around Chicago's north side and south side. I went to Champagne once to visit someone that was going to college there and Springfield one time to check out a Shelby that was for sale but that was about it.
deplorable_1
  |     |   Comment #32
Lol yeah me too. What happened Mak shy town got too scary after the big O and co. got done with it?
Mak
  |     |   Comment #34
dep...It's actually called Chi-town and I moved for 2 reasons, my mother was getting up in age and living alone in AZ ..plus I was sick of the winters... ...your problem is you're very trumpy, everything is blue against red or them against us.
Mak
  |     |   Comment #40
and a Happy Thanksgiving to you too
ChrisinFlorida
  |     |   Comment #46
That said we can talk rates and different sides of the political spectrum can be civil here. Taking something of value from your experience is not political and I enjoy the knowledge shared here. I am 52 and have learned a lot in a year....a lot.
ChrisinFlorida
  |     |   Comment #45
Mak in a Dem run h**l hole like Chi-town where the Dems have been in control forever, you have to take your licks. There is no defense or blame on the ignored violence except to the libs. Corporations flee Chicago like Cali and the gun violence is worse than third world yet. Mainly black Americans on black Americans. Not good for business nor longevity. Add in the winters and no thank you! Them against us in politics is how it is now, there will never be reconciliation unfortunately. Arizona sounds like a great choice...
govegan
  |     |   Comment #53
“All animals have the same capacity for suffering, but how we see them differs and that determines what we’ll tolerate happening to them. In the western world, we feel it wrong to torture and eat cats and dogs, but perfectly acceptable to do the same to animals equally as sentient and capable of suffering. No beings who pride themselves on rationality can continue to support such behaviour.”- Twyla Francois
111
  |     |   Comment #68
@#53 - “And in much of the eastern world, they feel it wrong to eat certain animals (the classic example is cows in India), yet - especially further to the east - they chow down on cats and dogs like there's no tomorrow. They eat our pets, we eat theirs. Who's to say which is right?” - 111
CDsuckers
  |     |   Comment #114
Heck, this verifies that there's no shortage of turkeys in Illinois.
The human kind that is...111
govegan
  |     |   Comment #56
"A new Food and Pandemics report from ProVeg International explores the connections between COVID-19 and our global animal-based food system. Analyzing the relationship between animal farming and past global disease outbreaks, as well as the role of animal exploitation in the current crisis, the report unequivocally concludes that “using animals for food is the most risky human behaviour in relation to pandemics, and one of the most risky behaviours in relation to the long-term survival of human society.”

Part I of the report lays out how our food choices create the necessary conditions for zoonotic pandemics via three mutually reinforcing practices:

(1) The destruction of ecosystems and the loss of biodiversity (driven largely by animal agriculture)
(2) The use of wild animals for food
(3) The use of farmed animals for food

Analyzing each of these drivers, the report demonstrates how the risk of future zoonotic outbreaks (as well as the severity of their impacts) unavoidably increases in response to demand for meat, dairy, and eggs, and the globalization of these industries. The report strongly urges a shift toward plant-based diets in order to prevent future pandemics.
“Transforming the global food system by replacing animal-based products with plant-based and cultured alternatives provides a multiproblem solution – preventing not only future pandemics but also helping to mitigate major parallel crises such as climate change, world hunger, and antibiotics resistance.”
SmittyInTheCity
  |     |   Comment #24
Isn't tofurkey more expensive than turkey? And do you really mean "Happy Thanksgiving everyone" if you're inserting political rhetoric for no reason into your well wishes?
deplorable_1
  |     |   Comment #28
Of course I meant it stop being so sensitive. I'm a nice guy. : )
kcfield
  |     |   Comment #50
D1: I am quite sure that tofurkey precludes the pursuit of happiness; as well as the joy of post-meal tryptophan nappiness.
milty
  |     |   Comment #58
No supply chain shortages or inflation with respect to frozen turkeys where I live. Purchased our Shady Brook bird for 79 cents/pound.
racecar
  |     |   Comment #36
I'm grateful for:
(1) DA, Ken, and this site, that has helped so many for so long
(2) The users on this site, as we help each other with tips and ideas (there are so many, but most recently, a shout out to SouthernGirl!)
(3) The fact that there are still places to get the news as it actually is in reality, to balance those outlets that make a fortune peddling lies, getting richer the more their viewers get agitated.
(4) The fact that my country isn't currently being invaded by a major world power right now under the guise of lies, so I still have my life, a roof over my head, heat, and food.
(5) The fact that while rates lowered over the last few years, the FIs where I had Add-On CDs did NOT go back on their word, and continued to allow Add-Ons at a decent 3% rate (GTE quickly reversed course after they first tried something like that, and another tiny local CU that offered their own 3% Add-On CD continued to allow deposits for granfathered CDs even as they stopped Add-Ons for new ones).
(6) The warmth of family and friends
(7) Random acts of kindness by strangers
deplorable_1
  |     |   Comment #37
Very nice racecar i'll second that.....Amen. : )
111
  |     |   Comment #71
@#36 - Racecar's point number 5 reminds me of a situation that happened a couple of years ago. In early 2019 I bought a 3% (then a decent rate) 33-month add-on CD from a small Indiana bank. In mid-2020, I was surprised to find out that they were going to be taken over by a slightly larger Indiana credit union, 3Rivers FCU. I was curious whether 3Rivers would honor the add-on agreement, since to my knowledge NCUA rules don't always require them to, plus at that time 3Rivers' own rates were low. (Very recently they've gone much higher, as you can see on their page on da.com.)

Not only did they agree to honor it (with no prompting or other action from me), but they removed the $250k “cap” that the original bank had placed on the agreement. This helped me get a somewhat better return on some funds that came available in 2020 and 2021, without having to lock up those funds for longer. So in my view they went above and beyond, and I'd certainly recommend them to anyone.
Hooked
  |     |   Comment #38
Happy Thanksgiving to Ken and my fellow DA readers!
Hooked
  |     |   Comment #41
If anyone is interested in opening an account at Fidelity to purchase T-bills, brokered CDs, etc., Fidelity has a special $150 holiday bonus for opening an eligible account and deposit $50. Offer code is FIDELITY150 and ends 12/02/22. Hope it is fine to post their link here:

https://www.fidelity.com/go/special-offer/holiday

I already have a Fidelity cash management account; opened a brokerage account a few days ago, deposited $50 and received confirmation I am eligible for the bonus.
ChrisinFlorida
  |     |   Comment #47
They offered a Fidelity Youth Account earlier this year with a $50 bonus and my kid got the $50 and now has a Roth, cash management account and 6k in Deere and Coke stock! New client for life. If I had a Roth at 17 wow. I am a big fan of Fidelity. I literally bought my first CD's in my life this year.
Robb
  |     |   Comment #39
Happy Thanksgiving to all! And Ken thanks for your hard work and this site!

The Space Coast Credit Union 33 month 4.84% deal is available in 34 FL counties…not 7 NE Indiana counties as posted above. Thanks!
Mak
  |     |   Comment #67
Robb... Happy Thanksgiving..... getting close to that open gap at 4070...who knew????
Robb
  |     |   Comment #70
Mak same to you and yours! Keeping tabs also on our Downtrend line near 4,100 and 3.5% on the 10 year note. Interesting times!
SavyCD
  |     |   Comment #42
Happy Thanksgiving Ken and DA family! I'm thankful for the money roller coaster ride!
kcfield
  |     |   Comment #49
Ken I am thankful for your continued dedication to Deposit Accounts and to your readers.
Your diligent research and insights have helped many of us to make wiser savings and investment decisions. I wish you and your family a peaceful and joyful Thanksgiving.
calwatch
  |     |   Comment #51
Happy Thanksgiving Ken and to everyone who helps on this site for the past two decades now? Great run even if it is sometimes a roller coaster.
milty
  |     |   Comment #57
Happy Thanksgiving to one and all. Also, I totally agree with comment# 3, and could not have said it better.
55Chevy
  |     |   Comment #59
To all those that have lost their job recently due to rising interest rates.To all those that have endured the highest inflation this year in over 20 years.To all those that can barely afford to pay their record high rent prices. To all those that can't afford to take out a mortgage because rates have doubled in 1 year. And finally to all those that have put up with a clueless FOMC committee these past years that contributed in a big way creating this gigantic mess we are currently in...Happy Thanksgiving!
CRSNP
  |     |   Comment #61
Thank you, Mr. Tumin. I've been monitoring this website and found it to be of great value. I'm thinking of acquiring more long term CDs & Treasuries (48-60 months) by the EOY. I'll probably stick with mostly Treasuries as there is no limit to the insurability as well as municipal bonds. I am conservative with investments to a fault and since I retired, I've grown more so. I originally thought of obtaining 84-120 month vehicles but I just can't pull the trigger on such long commitments. I know CDs can be cashed and 2nd market Treasuries sold so it's probably just a mental block. Anyway, I enjoy the on point financial opinions.
Kaight
  |     |   Comment #62
Pursuant to sharon907's comment #1:

The American people recently voted. Their votes viewed as an ensemble surprised me and lend credence, in my view, to sharon907's thinking:

Stated simply as I'm able, the American people appear to care less about inflation, are more tolerant of inflation, than I anticipated they would be. Again, I did not see this coming. But fact is such acceptance could easily precipitate still more, and from time to time larger, inflation.

Mind I'm not asserting the American people enjoy, welcome, or don't care at all about inflation; hardly. But apparently they care even more about other matters.  And inflation, once rooted, requires laserlike focus to extinguish. Stagflation exists.

Bottom line I think the Fed's much touted 2% inflation target is a scam.  It is a joke.  So I throw in my lot with sharon907.
flygirl56
  |     |   Comment #72
You got that right. As someone originally from AZ who's family routinely used to vote (R), I can tell you that's not the case anymore. I hate inflation -- as well as the companies that are piggybacking additional profit on top of it thinking we won't notice, but one party (a) took away a right of half the country that we've had for 50 years and (b) tried to overthrow our government and refuses to acknowledge they lost, even to this day, so yeah, there are things other than inflation that a lot of this country considered. As I was telling a friend, back when I needed someone to watch my kid, I'd closely look into my various daycare options, yet right now part of the country thinks that "that place is the cheapest and best for your pocketbook, so who cares if their staff molests your kid?" is okay, and wonders why others don't. Besides, there's only so much the president or congress of either party can do with things like high gas prices. Biden tried to cozy up to Saudi Arabia just like Trump did and the thanks he got was a rise in OPEC prices. I don't study inflation but what I've read, Inflation goes in cycles too, and part of it currently at least, was caused by the 2 stimuluses -- 1 done by each party in response to a once in a generation pandemic. And there's also a war going on in europe right now. So I don't know if there are any easy answers. At least rates have gone up somewhat with inflation, I just wish I had more to put away long-term but I'm at the age now where I'm going to be needing the money. I remember a time when every bank paid 5.25% for $5 in my bank account but of course at the time I didn't have to worry about credit card or loan rates either~~
sharon907
  |     |   Comment #75
# 72

If you think the Ukraine war is inflationary, what do you think will happen when the country is literally being rebuilt? It looks like roads, utilities, and buildings, will all be rebuilt. I am sure American multi-globals are already making plans to ":help" spend the recovery money.

Perhaps China will be out of lockdown, during those same years.
sharon907
  |     |   Comment #74
# 62

Americans have shown their preference for printing paper (money) instead of encouraging thrift and hard work.

I have bought some very long-term fixed income in case reality hits. But, also staying short.

Good luck to hard-working self-sufficient people everywhere. We deserve a better government and society.
sharon907
  |     |   Comment #119
# 115

Most of you don't. Oppression is a currency.

Big words including "nobody" and "everyone," are the direct result of lazy, binary thinking.
Rosedala
  |     |   Comment #64
Ken, we all have so much to thank YOU for all your incredibly helpful work you infallibly deliver to us daily, so I want to wish you a BIG AND HAPPY THANKSGIVING in good health and in the company of your family and friends! :o)
Rosedala
  |     |   Comment #65
I always enjoy all the comments on this great site from which I learn so much, so....
Happy Thanksgiving to all! :)
spentcattle
  |     |   Comment #78
Oncor electric (Texas utility) 2033 7.25% yes the yield is less if held to maturity in that you would receive par but probably wont hold till then. S and P has it A+. Sure it could be downgraded.
sharon907
  |     |   Comment #103
# 78

Oncor coupon is 7.25%. But the bond is selling for $1,170. So the yield is 5%, not 7.25%.  Including the attrition of the par to maturity.

Find a bond calculator.  Learn a bit about bonds.

How did you focus on Oncor?

Personally, I would consider an annuity, over a bond or bond fund.  It provides the diversity of a bond fund, with a guarantee by the insurance company and state associations.  And they should pay a bit over bond funds, collected from annuity owner that pay fees.

Good luck to everyone.
CDsuckers
  |     |   Comment #116
Those "state associations" aren't backed by state governments.
sharon907
  |     |   Comment #117
What point do you think you are trying to make Jimbo # 116

Reading (and comprehension)
are fundamental.

The state associations are by definition state associations, because they are chartered- and enforced - by state law.

And yes, fortunately, they are privately funded. I trust the financial capability of the entirety of the insurance industry, over my state government. And certainly over a bond or bond fund, that has no guarantee whatsoever. Try to think.

The real risk is the state associations only guarantee against insolvency, that may be after a long period of rehabilitation.

Don't be embarrassed to ask more questions! Jimbo.
spentcattle
  |     |   Comment #192
I did learn a bit about bonds. If I sell it in three years and interest rates have gone down I will make 7.25 percent a year on the yield plus a capital gain in the bond.
spentcattle
  |     |   Comment #194
I did learn. I learned that I could sell this bond in three or five years and if interest rates are lower I will get my 7.25% each year and end up selling my bond for a capital gain
spentcattle
  |     |   Comment #73
My two cents it seems the banks and credit unions etc know the avalanche of demand they get at 5% so why should they pay higher? Not recommending and a bit off topic but besides CD's I'm looking at long term investment grade bonds that are yielding 7 percent or so. Yes you have to pay a premium but if interest rates collapse like I think is possible your bond could be worth more.
sharon907
  |     |   Comment #76
BBB is investment grade, but there is a big difference between ~ AA and BBB.

Anyway, these are the median yields, and the highest median yield is BBB 20-year at 5.6%

https://fixedincome.fidelity.com/ftgw/fi/FILanding#tbcurrent-yields|median-yield

Good luck everyone.
davidinNY
  |     |   Comment #79
happy thanksgiving all and many thanks for the information...also, thank you for the vegan comedy!
sharon907
  |     |   Comment #81
No. There will be a few outliers at the top. For instance, hospitals and colleges seem to yield above average. Insured credits with bad underlying ratings. Credit Suisse and Wells Fargo have been yielding above average in 2022.
sharon907
  |     |   Comment #104
spentcattle is confusing coupon with yield.

# 103

and today, when the market is open, there are literally 4 A rated bonds yielding over 7%, and they are all Credit Suisse and all have minimum purchases of $250,000.
gregk
  |     |   Comment #80
The Fed hasn't ceased rate hikes (let alone started cutting), inflation has not been tempered, nor has recession and a rise in unemployment taken hold, or is a new financial crisis percolating through and disrupting markets.

So why believe long-term CD rates have peaked or are about to?

Because of the mere expectation that these things will occur, - expectations that may not be realized but only compulsively talked about?

Because Ken Tumin and all the other prattlers (who have been wrong so many times before and in no-wise predicted the current circumstances we are now in) say so?

What a craven and gullible group we have here, swayed this way and that by the talk machine, and likely to make poor decisions as a result thereof.

Dig back in the DA Archive and read how laughably wrong Ken was for a very, very, long time in
downplaying any worries about inflation, and unshakably convinced that post-covid Fed moves would mimic the pattern established during the financial crisis years of over a decade ago.

I see no reason to believe we have now seen the last of 5% (or higher) 5-7 year CD's. Can anyone offer a truly rational argument based on events and data that have actually transpired (rather than mere speculations about such) to expose my belief as a foolhardy one?
kcfield
  |     |   Comment #84
Greg K: We have one of the best meteorologists in the country at our church; and his forecasts are sometimes incorrect. He is humble about his forecasts and doesn't make them with arrogance or certainty, because he knows that weather patterns can quickly change. Does this mean all weather forecasting and reporting should stop? I think not, because the reports are still of value even though they are not always accurate. In the same way, Ken is humble in his reporting and forecasting, because he knows that the financial weather patterns can change quickly as well. He speaks about what may happen--or what is likely to happen given current information--but he never speaks in absolutes, and never gives definitive investment advice. Does that mean that Ken should stop providing blog posts and analysis? Certainly not, as he is one of the best around, even though as you note his analyses are not 100% accurate--nor are Warren Buffett's or Jimmy the Greek's (may the latter rest in piece). You seem like a man with high standards who would never return to a restaurant that served bad food. The fact that you remain a regular reader and commenter on this site means that you find value in DA as well--in spite of your critique. Finally, do you think your post was appropriate for Thanksgiving Day? Timing, sir.
JVW
  |     |   Comment #85
If you are going to call Ken Tumin a prattler do yourself, and us, a favor and move elsewhere.

Especially on Thanksgiving what a low class person you are.

Ken built this site through hard work to the benefit of all of us. Insulting.

What a pathetic post, loser.
gregk
  |     |   Comment #93
Oh, poo on you. I knew me good-humoredly tweaking Ken just a bit would draw out some hero-worshipper's ire. I've been around here probably longer than anyone, JVW, and expressed my gratitude and appreciation for (and to) Ken and DA many times. But he's often been wrong, - most egregiously so on the inflation run-up and Fed policy responses in the wake of Covid. Why can't I say so without the implication being he is some lowlife trash-talker, - and woe is me, especially on Thanksgiving? Sure I've just ruined his day, at least in the brains of his un-needed sycophants and protectors here. What a laugh, - and btw, KC, Ken as our Christ-like "humble servant" here is quite the extravagant judgment about someone who (legitimately) made many millions when he sold DA to the Lending Tree Corporation.. 

Now, about the "rational argument" in defense of believing long-term CD rates have peaked or are close to having done so, - I'm not expecting anyone able to make one.
Rosedala
  |     |   Comment #96
GregK, I’m sorry but I agree with kcfield's and JVW's comments about your #93 post. I also envision you, judging by your post now and some in the past, to be quite arrogant. Ken, besides being a very hard worker and founder of this site (where you're allowed to bitterly and grossly criticize him), through the years of reading his posts, comments and some email interchange with me, showed to be a very honest and unselfish person. Even if it were true what you said of his work, you owe him and those of us: the "Christ-like humble servants", to offer an apology for your unthinking post. Please learn some finesses in life…they have much more pleasant taste and aroma. 
Rosedala
  |     |   Comment #97
I just realized now that the 2 question marks at the end of my message is the smilie I posted. Will remember not to try it again lol!
gregk
  |     |   Comment #99
Where did I suggest Ken's not a "hard worker", that he's not "very honest", and not an "unselfish person", - and tell me, btw, what I've "said of his work" that demands my apology? Astonishing the projections that occur here based on no more than poster's vivid imagination and their own misguided need to protect a benefactor they mistakenly perceive is being bad-mouthed and persecuted.

What I said about Ken in passing (which was only an incidental part of my post) was that he was mistaken in downplaying the likelihood of inflation and about the permutations of Fed policy post-covid, - and then I suggested in response to another that he may not have been totally without self-interest in creating and building DA down through the years. "Bitter" and "gross" remarks.they certainly were not, and not even contestable points that need to be debated, - (or would anyone like me to quote Ken from the Archive, or copy and paste press clippings from when DA was sold?).

But what about my original invitation?

Can anyone (including Ken himself) make a convincing case that long-term CD rates have likely peaked?

Ken suggests that falling Treasury yields over the past week or two are all the evidence we might need, which "evidence" I find truly ludicrous from someone of his stature and erudition.
w00d00w
  |     |   Comment #102
perhaps my thinking is too simplistic, but the way i see it is that inflation is driving interest rates for everything, including CDs. over the last 3 readings, CPI-U inflation has been 2.34% annualized. if that short term trend of lower inflation continues to lengthen, then i wouldn't expect mid to long term rates to increase. if that short term trend reverses and inflation begins to accelerate again, then those rates are likely to rise. whether the peak in rates has been reached or not depends on the future course of inflation which is unknowable. the best an investor can do is make a probabilistic guess and invest accordingly.
sharon907
  |     |   Comment #109
woodrow # 102

When I calculate the last three months CPI (seasonally adjusted) is 0.9%, annualized = 3.66%
Aug 0.1
Sep 0.4
Oct 0.4

How do you calculate annualized 2.34%?

https://www.bls.gov/news.release/cpi.nr0.htm
w00d00w
  |     |   Comment #111
CPI-U index released in August: 296.276
same index in November: 298.012

((298.012-296.276)/296.276)*4= 2.34%

one difference is that CPI-U is not seasonally adjusted. looking back to that same stretch of months in 2021, the annualized rate using CPI-U was 5.25%
sharon907
  |     |   Comment #112
Thanks.

Though, CPI-U is both unadjusted, and seasonally adjusted. It is a choice to use either set of data. Normally, adjusted data is used for periods other than a year, unadjusted data is used for yearly comparisons. There is not a right or wrong answer, it depends on what you think provides more useful data.

This is the unadjusted data that you apparently used.

https://www.bls.gov/regions/mid-atlantic/data/consumerpriceindexhistorical_us_table.htm
lou
  |     |   Comment #118
Now tell me what core inflation (w/o food and gas) is for the last three months. After you do that tell me what inflation is for services less consumer goods and housing. Services is the component that is dependent on wage growth. This is what the Fed is looking at.
w00d00w
  |     |   Comment #129
i was thinking core PCE was the main inflation indicator the Fed considers with Services being a part, but not the entirety of that. next reading due on Dec 1st and treasury rates could move if it deviates from consensus expectation. Cleveland Fed's Nowcasting tool currently forecasting 5.02%, compared to same month last year. slightly less than last month's 5.1%
sharon907
  |     |   Comment #105
#99

the most likely evidence of lower rates, is the inverted yield curve, because it literally forecasts lower long-term rates.

the question I have is, when the economy slows down, are the politicians going to let people suffer, or start giving out more money. in addition to the pandemic relief that is still being spent through 2024.

now that we have seen inflation for two years, I am more concerned about inflation than in the past. however, it is possible the economy and inflation will slow. i previously bought long-term rates when possible, now I am keeping some short-term.
ChrisinFlorida
  |     |   Comment #126
Will the Fed continue to raise rates in a recession? And doesn't it take months before the true effects of the magnitude of current rate increases are felt? I would love a 6% CD about April when I have 250k coming up! Is the drop in the 10 year from 4.5 to current a head fake? All answers time will tell...nobody here really knows and can only guess. Rates may go higher but on short term durations only?
spentcattle
  |     |   Comment #101
The fed itself has said they have no idea of the cumulative effect of these rapid rate hikes. I think theres a good chance these incredibly rapid hikes start to hit the economy hard and cause a recession. Keep in mind a year ago the fed was dead wrong about their dot plot. I see no reason they will get this perfect
sharon907
  |     |   Comment #120
But you don't know the difference between coupon and yield.
Toobadsosad
  |     |   Comment #168
Ken has provided really important and accurate information on his site.
What have you done...except complain. If you 'see' no reason to believe we have seen the last of 5% CD's, do the work and present it to everyone...like Ken does.
Beyond pathetic and bitter post.
jinniu
  |     |   Comment #86
Can someone educate me on the T-Bill interest as I do not understand how the rates work with my purchase. For example, I bought $20,000 26-week TB, and paid $19,540 (approx.), at the rate of 4.6%. But the yield $460 appears to be the rate for $10,000, not $20,000. Anything I need to know? Thanks.
kcfield
  |     |   Comment #89
Jinniu: When you divide 20000 by 19540 you get 1.0235--meaning that if you had a 12 month treasury, you would be earning only. 2.35% interest. However your TB is only for 6 months, meaning that your effective interest is about 4.7%.
jinniu
  |     |   Comment #92
Good to know and thank you! I am learning big things.
Shelby
  |     |   Comment #91
Thank you Ken for all the valuable info this year, your hands-on approach, and financial insights. You created a very unique blog and I hope you stay involved for many more years!
Ratesaver
  |     |   Comment #100
I must say happy Thanksgiving to all more to come ... Thank ken for all the posts . Some of us that have been around for a long time have made some cash that otherwise may not have been possible .Hope for more to come..
SouthernGirl
  |     |   Comment #106
Ken,
Please update Navy FCU, 24 month easy start (add-on) certificate to 3.90%, with a minimum to open of $50.00, with no cap. Thank you!
davidinNY
  |     |   Comment #107
on schwab now...state bank of india non callable 4.95 (3) years payable semiannnually
andybuji
  |     |   Comment #108
on vanguard too...picked up some, even though I'd prefer a longer duration
Robb
  |     |   Comment #110
I picked up some too filling out year 3. Hope to finish off years 4-7 over the next 3-6 months.
dale26s
  |     |   Comment #123
Thought I saw a post that Powell said he will pause after Jan .50 hike., but cant find it Did anyone else see anything like this?
spentcattle
  |     |   Comment #125
We dont know yet, nobody really knows. This seems reasonable but inflation numbers in next few weeks may determine. It certainly seems reasonable given one of the most rapid raising in history
remrem
  |     |   Comment #130
For those who aren't familiar with the CME website (which Ken's articles reference), their probability page provides a consensus prediction of what rate hikes J. Powell & Co. are likely to make at upcoming meetings over the next year. I realize it's a blunt instrument, and that it can fluctuate significantly with the slightest puff of news or new data points. Nevertheless, at the moment it predicts a 50 basis point hike at the December meeting, another 50 basis point hike at February's meeting, followed by a pause, and then peaking with a final hike of 25 basis points in the Spring of 2023.
Here's the link: https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html

MY question is, even with all its limitations and caveats, does anyone here think it has ANY VALUE in merely trying to predict the DIRECTION of LONGER term rates, such as 5 year CD's for instance?
lou
  |     |   Comment #132
No question it's a futile exercise to predict long-term interest rates, but if the CME website is correct and we get a Federal Fund rate of 5.5%, then I would be amazed if we didn't see 5-yr CD rates higher than that. In all the years I have bought CDs, I have never seen 5-yr CDs lower than the Fed Funds rate.

Today, the Fed Fund rate is 3.75 to 4% and there are quite a few 5--yr CDs at 4.5% despite the inverted yield curve. OTOH, maybe the CME is wrong and the Fed doesn't hike rates to the level they predict.
rockies
  |     |   Comment #124
Fairfield Federal of Lancaster (OH) is offering its 18-Month Variable IRA at 5.25% APY. However, this is a Local-Only deal. As stated on its website, "We open deposit accounts only for residents of Fairfield County, Ohio or any contiguous county (or for established customers who have moved away from Fairfield County)."
https://www.fairfieldfederal.com/FF-Savings-Rates-Certificates-Ohio.html
davidinNY
  |     |   Comment #127
just read about the variable rate. it says rate may change after account is opened...does that mean they can change it in 24 hours after opening? sounds like a scam.
Choice
  |     |   Comment #128
If it’s a variable rate, when would the rate change?  Less than24 hours?
rockies
  |     |   Comment #131
When I researched this product some time ago, the index was the 6-month US Treasury bill. The calculation was the weekly 6-month US Treasury bill + 60bps. At the time, the rate changed weekly and was published each Thursday on their web site based on the results of the Treasury auction earlier that week. I assume it is still the same. However, if you are a qualified Ohio resident who lives in Fairfield County or contiguous counties and you are interested, I would recommend you call and confirm that the calculation and frequency remains the same. I have no reason to believe it is a scam, but if you would like to check with the FDIC, the bank's FDIC certificate number is 27806.
SouthernGirl
  |     |   Comment #135
rockies,
Thank you for your research and postings on Fairfield Federal and Regions Bank 18mth variable IRA. It is appreciated
ChrisinFlorida
  |     |   Comment #134
An interesting article I ran across yesterday:

https://www.forbes.com/sites/bill_stone/2022/11/27/have-bond-yields-peaked/?sh=2891f5b2313e
sams1985
  |     |   Comment #136
Hope everyone on DA had a happy Thanksgiving...what's the mood this week fellow rate chasers? I've doubled down on waiting at this point. Its a gamble but nobody knows what will happen.
ChrisinFlorida
  |     |   Comment #137
I could not wait and added brokered CD's at Fidelity for 3 years at 4.9 and 4 years at 4.85 that settled last week. The article I posted gives examples of the 10 year going up in recessions so it is not unprecedented.
sams1985
  |     |   Comment #139
Not a bad move at all, unfortunately i missed those. I think i will also jump in the next chance i can get a 3/4/5 year close to 5%. Would prefer 4/5 year term.
dale26s
  |     |   Comment #138
we should know a bit more after Powell next speaks-scheduled for Wed I believe, as well as when job numbers come out Fri
davidinNY
  |     |   Comment #140
on schwab, 4.85 two years wells fargo non callable, at the wells bank today, they had 3 years.
sams1985
  |     |   Comment #141
5/10 year treasuries are holding steady...let's see what happens this week. Another hot jobs report could kill any recession fears.
ChrisinFlorida
  |     |   Comment #164
Weak ADP report...but I do not put much credence in that one.
LovinSomeCDs
  |     |   Comment #142
So, I have a question. With this article stating that we may have peaked with long term CDs, what are the chances that the rates go down significantly by Feb 2023 (in about 2 months). I have one maturing at that time, and I am not usually one to break a CD. I have done it before, but obviously try to avoid it. I dont see why rates would plummet in 2 months, but you never know. Would this be a situation where you would consider paying the 6 month EWP now, and put it back into a 5 year? Or would you say rates will be at or about the range they are now? Just curious what you guys think. Thanks all!
sams1985
  |     |   Comment #144
To answer your question I don’t think they will start declining from where we are currently until the fed definitively indicates they will cut rates. Remember- we still have 1-2 rate hikes ahead. Will they rise from here is a totally other question that’ nobody can answer. 
LovinSomeCDs
  |     |   Comment #145
Thanks Sams,
I am not a greedy person, as I locked in a 5 year at 4% a couple months ago. I dont sweat a difference of 1% or less at all. Sure, I could have waited, but big deal. I have been on the "perfect timing" end, and the "other" end. What I dont want to happen is my CD that matures in a couple months catches a sudden fall to the obama years rates of 1.5%.
dale26s
  |     |   Comment #146
I actually paid the ewp for some cds coming due in 2023 & 2024 and put the funds into 5 yr cds - first time i ever broke cds, but when i did the calculations, i thought it made sense to break 3% & 3.25% and put into 4.95 & 4.85 esp. as I was happy to get those higher rates & am concerned what rates might look like in latter part of 2023 & 2024...even wondering if I should break more ...
Shelby
  |     |   Comment #143
5% @ 59 month one time bump up CD's with no dollar limit. Today completed all my purchases for this month with this great CD offering ..for those of us able to be within their field of membership @ Wash/Idaho areas. Numerica CU has terrific customer service, very professional and knowledgable. Dividends can be withdrawn at any time no penalty/unlimited bene. posted for you online with names and percentages/and no outsourcing cust. service, 270 ewp.
lou
  |     |   Comment #150
Looked at their website as well as Ken's post and there is no mention of bump up.
Even if there is one, I would view it as a gimmick since it's a 48-59 month certificate.
SufferinPacific
  |     |   Comment #147
I'd still keep your powder dry before locking in. One projections puts the 5 year Treasury at 5% by May 2023.

https://econforecasting.com/forecast-t05y
55Chevy
  |     |   Comment #148
So you would give up a 5% locked in 59 month cd with a bump up feature for someone’s projection that 5 year cd rates will be above 5% early next year?what are you smoking?people in this blog are lucky to get a 3 yr cd now even close to 5%
lou
  |     |   Comment #149
I am smoking the same thing as SufferinPacific. The 5% 59 month CD has to high an EWP and the bump up is a gimmick since it's a 59 month CD.
Obviously, we must believe you can score a CD next year that's higher than 5%. We could be wrong but many of the same people were buying 3.5% CDs in July saying the same thing.
55Chevy
  |     |   Comment #151
You are absolutely wrong about the bump up.It is considered a 4 year cd with the ability to stretch the term out to 59 months if desired. For bump up it is considered a 48 month CD and can be bumped up once if the 4 yr rate rises. You learned something today Lou. Also, good luck finding/securing a higher rate then 5% going forward losing money sitting in a MM waiting for something that may never materialize.A  270 ewp is not high for a 5 year CD especially since the APY is 5 %. A 180 day ewp on a 5 year is not the norm now as rates have moved higher as 5 year 5% terms are very hard to find. BTW, the bump feature you called a gimmick is written right in the cd disclosure I was sent when the cd was purchased. Just call and ask customer service and they will gladly confirm.
lou
  |     |   Comment #152
I have a number of 5-yr CDs from different credit unions with 180 day ewp.
Today, I am earning 4% in a liquid fund so I am not losing a lot of money while I wait. In a few weeks this account will probably be at 4.5% after the next Fed Funds rate increase.

The bump may be great as long as they increase the rate on the 48 month CD above 5%, something they don't have to do. Interesting that there is no mention of it on their website.

Finally, we will both see if rates move above 5% for 5-yr CDs next year. I am not making wild guesses here. All I am doing is listening to Federal Reserve members who are signaling at least another 100 basis points increase in the Federal Fund rates. If they signal otherwise I will change my position on this.

Go back and read some of the comments from posters in June, July and August. They were all sure that rates wouldn't go higher than 3.5%. The fact is no one knows for sure. I will continue to pay attention to Fed commentary and will take my cues from them.
55Chevy
  |     |   Comment #153
So now you are characterizing the bump rate as"great"? Thats a far cry from calling it "a gimmick" in your earlier posts. And, of course a Bump will only be used if a higher rate is offered by the FI which would make the bump feature offered "Great".. for the enduser regardless of the FI.

Many depositors have a number of cd's with a 180 day ewp's however it's not unusual or extreme to have a 270 day ewp for a 5 year CD.

Finally, you are timing the market waiting for a much higher rate keeping your money in 4% funds effectively losing money while that money could be working for you in higher rate cd's. If you have money to put to work and 5% CD's are available grab them..this is not early summer 2022 before Powells Fed went all in.They went all in, longer rates went up, and now longer rates are going down and will continue down even with another 2/4 50 or 25 bp hikes still to come. There is no motivation for FI's to prop up the longer rates, especially in a nose diving real estate market  and softer inflation reading.
lou
  |     |   Comment #156
Let's take a look at this next year. Will see then who's right.
ChrisinFlorida
  |     |   Comment #160
I put some money to work over summer at 3.55 and seeing almost zero return with early 2022 rates, no regrets. I am averaged at 4.21 now for 3-5 years and if I can snag 5% or 4% in April I will buy the highest rate available at a decent duration and be happy while I buy the hell out of the funds and etf's I own by monthly averaging for the coming drop back to 2022 lows in equities.
dale26s
  |     |   Comment #154
Re Add-ons- The Navy 2 yr 3.9 add on is only $50-no brainer- DO any of you think in addition the Rising Bank 26 mo 3.8 add on, requiring $10,000 also makes sense? Lots of funds coming due 2023..and I know I made lots on use of add ons in the past
davidinNY
  |     |   Comment #155
taking a commercial break from the current subject...wells fargo brokerage is offering 4.95% on bank of india for 3 years., non callable. but only if you buy it thru them. the rub is you have to deal with one guy and thats it...not like fidelity and schwab where you can go in and buy or sell or trade on your own anytime. just letting you know, and this cd is not on fidelity or schwab. btw, i didnt set up an account and didnt buy it.
111
  |     |   Comment #157
#154 - I have CDs (or groups of them) maturing at 4 dates between now and early Fall 2024. Bought a Rising Bank 3-year add-on CD several months ago, in addition to a couple Rising 18-month add-ons - in addition to Navy FCU IRA and non-IRA add-ons (the one you mentioned, plus others). And several other add-ons from other FIs. Not quite ready to say that my Rising Bank add-ons were a mistake, but am ready to say that they were surely expensive. Rising has somewhat funky reporting/statement issues. I consider all other add-ons I bought within the past year a bargain for rate insurance, but Rising add-ons are a currently a “maybe”. Problem with rate insurance is that you don't know what ends up being cost-effective until the scenario plays out.

Were I you I might look into MACU's 2-year and 5-year add-on CDs (although capped) before Rising. And even AgFed for lower-end rate insurance - rates not great, but minimums low and processing very easy (since you already know about Navy). Depends of course on the amount of funds you're dealing with and appetite for risk.
dale26s
  |     |   Comment #166
Thanks for your thoughts- i have too much of my ladder coming due 2023 & 2024 and thinking that rates probably peaked and the add on rate at Rising of 3.8 for 26 mo may look very good in 2024 so am going with that [unfortunately 3 yr Rising add on no longer available and I need more "coverage" than just Navy & Mt America ] i remember how much use i made of gte's add-ons so i am definitely a fan ..even ag feds rate of 3.55 may look good so thanks for that tip-wasnt on my radar
fuzz688
  |     |   Comment #158
Remember a bird in the hand is worth two in the bush any day.
lou
  |     |   Comment #159
Not if the bird bites your hand.
Vernazza88
  |     |   Comment #162
All the talking head experts with their Wharton school MBA's on Bloomberg are saying rates have peaked....time will tell.
Mals
  |     |   Comment #165
I am feeling that way too, we may see slight increases from here but I just don't see 6% happening in the next 12-15 months. To take advantage of those slight increases I am I am keeping some $$ liquid with short term Treasuries in 4.0-4.7% range and locking in other monies close to 5% (4.85-4.95%) for the longer 3-5 year terms just to keep building out my ladder. I hope I am wrong and we move up higher. It's been a good run lately for us savers to get some long awaited, respectable yield. We would have killed for these rates just 1-2 years ago. Good luck to all trying to navigate this. I am enjoying having options !!
dale26s
  |     |   Comment #167
where are you getting close to 5% now- I maxed out my Pelican account at those rates
Mals
  |     |   Comment #170
This morning got a 4.9% 3-year brokered CD at Sallie Mae Bank UT via Schwab. It is already sold out. Yesterday bought a 2 Year 4.9% brokered CD at USB Bank also Schwab, also sold out, but 4.9% 2 Year still available brokered via Schwab at Manufacturers & Trad NY
Mals
  |     |   Comment #171
Correction USB still available too and State Bank of India too. Also, all of these are non-callable.
dale26s
  |     |   Comment #177
tks..im looking at 3 plus yrs..guess i need to keep checking in the am tks again
dale26s
  |     |   Comment #179
Though it looks like those rates for 4 yrs are no longer available- I'm thinking better to go out the extra yr for less interest so not doing an equal ladder at the less than 4 yr terms- am concerned these 4 plus rates will be long gone when the 3 yr cds come due...thoughts??
sams1985
  |     |   Comment #169
They've been wrong so many times about the market...plus the very next day they'll have a segment saying the complete opposite.
lou
  |     |   Comment #172
As well as all the fake pundits on DA.
Fussybob
  |     |   Comment #173
Powell just spoke, rate increases to be lower, slower starting maybe in Dec.. Some treasury yields down 0.15% off their morning highs and continue to drop. Is this the time to lock in say 5 year CD's that are in the 3.8 - 4.0% or do most of you think that 5 year CDs still have a upside in 2023? I have a a large amount of funds that become available on Friday/
sams1985
  |     |   Comment #174
Again, i just cant fathom how his words can be so twisted and manipulated to create a narrative certain people want to push so badly. He also said the slowing hikes does not mean pivoting- and that there's a long way to go. Does the rest of it just get ignored or brushed aside?

At this rate, if the PCE comes in softer than expected the narrative will be that inflation is defeated once and for all.
lou
  |     |   Comment #175
When people are microfocused on this stuff every day you are going to get whipsawed by a lot of noise. Today there was a lot of noise, not much else. We don't know more today than yesterday despite all the hoopla.
Listedguru
  |     |   Comment #176
Quite the reversal to yields today with the 10 year going from almost 3.80 down to 3.60 and the 2 year dropped from 4.55 to 4.32

I sure hope the PCE comes in hot tomorrow but not feeling super confident it will. We need a hot PCE tomorrow followed by a strong jobs # on Friday and then a hot CPI come mid December. If the PCE is soft tomorrow and the jobs number on Friday is light we may be in trouble hear with yields most likely already peaked IMHO.
dale26s
  |     |   Comment #178
Who knows but personally I have been locking in 4 & 5 yr part of ladder since pre-Thanksgiving ...Have a bit more to do and will probably lock it in tomorrow am- I am happy enough with current rates and have seen recently how the higher rates can quickly disappear
Fussybob
  |     |   Comment #180
I agree. I was hopping that the 5/7/10 year treasuries would be above 4% in December and I was going to lock in about 80% of my money in Dec. and keep 20% for maybe rates going higher in 2023. I may just take what is available in Dec. I like you locked in a few 5 year CDs at 4.5 - 5% in the month of Nov.
davidinNY
  |     |   Comment #181
toyota in on schwab for 5% noncallable for four yeras but with a premium selling for $103.748.
remrem
  |     |   Comment #185
Hi davidinNY,
Are you referring to a brokered CD or to a Toyota corporate bond?
sharon907
  |     |   Comment #184
# 181

you should check the difference between coupon and yield.

if four-year fixed-income is selling for 104% of par, that reduces yield by about 1% per year, as the value moves to par.
andybuji
  |     |   Comment #186
Vanguard has some of the Toyota 4 yr 5% as well, priced at 103.65, yielding 4.001%. Sharon's rule of thumb is good for quick takes. The secondary market reacts in real time to changing conditions, dramatically so as we've seen. Today's PCE could mark the rate high - at least in the market. Direct banks are slower to react and particular to their own financial needs so moving forward, for better or worse, they'd probably be the way to go.

Still waiting with dry powder left for after the next rate hike. I'm 80% invested at an average rate of 4.32 with maturities from 3 yrs to 9 yrs (Celtic monthly @3.75), with 65% brokered, 35% direct. Don't regret a single purchase. What is useful to me on this site are members' actual buying decisions. Predictions about what the future has to offer, however well reasoned, are interesting but ultimately so what.
dale26s
  |     |   Comment #187
thanks for sharing- i have been putting all my funds at 3yrs plus also- most at 4yrs plus
DTMO
  |     |   Comment #189
Just posted on Schwab - brokered 6 yr.(!) 4.5% non-callable from Celtic Bank. You have to search View CDs to find it.
andybuji
  |     |   Comment #190
DTMO, do you have a CUSIP on this Celtic 6 yr 4.5?
spentcattle
  |     |   Comment #193
Dont forget we have had the most rapid rise in rates in a short period of time in history. Yes we have had higher rates but how fast they were raised is historical It would be normal for things to cool off for quite some time.

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