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  4. How High Are CD Rates Likely To Climb This Year?

How High Are CD Rates Likely To Climb This Year?

NoviceInvestor
  |     |   5 posts since 2018

I just signed up with what I thought was a good local deal at Washington Trust, 3% for 48 months. Then, Pawtucket Credit Union began offering 3% for 25 months. Now even Bank Newport is offering 3%, for 36 months. It's sort of like finally deciding on buying something, only to see go on sale three weeks later.

I'm seeing a lot of rate increases now. Was committing my money for 4 years a mistake? Will there be 3.25 -3.5% rates for 24 - 48 month CDs later this year?

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7


Answers
Ricochet
  |     |   522 posts since 2010
Buy them all.
It will be a good start on you building a 5yr CD Ladder
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7
Ricochet
  |     |   522 posts since 2010
This is some interesting history.

The Bank’s website provides a few “fun facts” that put the Bank’s long history into perspective.

We were the first bank to print George Washington’s likeness on currency — 69 years before President Washington appeared on the federally issued one-dollar bill and 132 years before the Washington quarter appeared.

We are 86 years older than the Statue of Liberty.

We celebrated our 60th anniversary the year Abraham Lincoln won the Presidency.
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7
Bozo
  |     |   1,375 posts since 2011
3% for three years seems the "sweet spot" these days. Another option: the 14 month 2.3% APY (my preference).
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2
NoviceInvestor
  |     |   5 posts since 2018
I took two CDs of equal value at Washington Trust, so I wouldn't take as big of a hit if I break one. Just six months of interest. I also have other uncommitted money to invest.

Am I likely to see 3.25 -3.5% rates for 24 - 48 month CDs later this year? I can wait for them.
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1
Anon1234
  |     |   114 posts since 2010
3.25APY for 48 months, but you must be eligible : see https://www.depositaccounts.com/banks/city-cu-tx/offers/
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2


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