Rates On 1-Year Brokered Cds Are Now At 3.00% On 7-14-2022

RichardW | Jul 14, 2022 | 821 posts since 2019

Fidelity and Vanguard are currently offering 1-year, non-callable, new issue brokered CDs by Wells Fargo Bank @ 3.00%. Perhaps 1-year brokered CD rates are now reacting to the fact that 1-year Treasury bills are currently yielding 3.21%.

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joking42 | Jul 15, 2022 | 3 posts since 2022

Good rate for 12 months CD. Hard to decide whether to buy this or wait until after the Fed July 26-27 meeting and see what the rates are then.

Choice | Jul 15, 2022 | 937 posts since 2020

Assuming one would do business with WF b/c of their prior track record of creating false accounts, etc. now there’s another…why do business when they don’t offer the same rate at brick and mortar locations. Who does one think is paying for that higher rate and o/h of those offices, etc. Unreal!

Ltssharon | Jul 15, 2022 | 472 posts since 2020

agreed. To me it is interesting that it must cost a LOT of money for their programmers, internet interface people. I wish to heck institutions would stop changing their online interfaces every day. just at the time a decision may require going online, bam, there is a new interface. So rather than focusing on the decision, now the new interface must first be absorbed. grouchy here.

GH1 | Jul 16, 2022 | 1,058 posts since 2017

I asked that question at the local branch. Why I can buy there products outside the bank at a brokerage, why I can not here at the branch. They actually could not answer and was stunned that I knew I could. Upper management needs repair. Just because they call the shots. But as you look at the brokered cds. Most of the banks are offering higher rates than the retail. It can only be because of overhead and employee cost. I would not let that stop u if they have the better rate. Still fdic insured. And it's to big to fail.

Sperry8 | Jul 16, 2022 | 274 posts since 2011

I'd say wait. I'd believe they'll pop higher in just a few weeks

GH1 | Jul 16, 2022 | 1,058 posts since 2017

Agreed since we know rates going up. Last month I purchased before and a week later jumped half percent

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