As of 3:30 pm EST 7/09/2024, here are the highest rates available at either Charles Schwab brokerage and/or Vanguard brokerage for non-callable, new-issue brokered CDs with terms of 3-month, 6-month, 9-month, 1-year, 18-month, 2-year, 3-year, 4-year, and 5-year:
3-month: 5.30% (Umpqua Bank OR)
6-month: 5.20% (Barclays Bank DE, PNC Bank NA PA)
9-month: 5.15% (Poppy Bank CA)
1-year: 5.05% (Truist Bank NC), 5.00% (BofA, MSPB)
18-month: 4.90% (Barclays Bank DE, MSB, MSPB)
2-year: 4.75% (MSB, MSPB)
3-year: 4.65% (Sallie Mae Bank UT, Toyota Financial Savings Bank NV, MSPB)
4-year: 4.55% (MSPB)
5-year: 4.50% (Sallie Mae Bank UT)
Large issuers abbreviations:
BofA => Bank of America, NC; GSB => Goldman Sachs Bank USA, NY;
MSB => Morgan Stanley Bank, UT; MSPB => Morgan Stanley Private Bank, NY;
SCHW => Charles Schwab Bank, TX; UBS => UBS Bank USA, UT; WF=> Wells Fargo Bank, SD.
Notes: Brokered short rates have really dropped in July. Market has quickly priced a 25 basis points cut going forward across all maturities, short and long. In late June, 5.35%, interest payable monthly, was available out 1 year, now is available at maturity at only 5.05%. For those staying liquid, waiting for the yield curve to steepen (longer rates to rise), the previous 4-week T bill auctions were most recently yielding investment rate: 5.375%, 5.365%, 5.324%, 5.355%. Current Money Market Yields at Vanguard (VMFXX (Settlement fund) – 5.27%, VUSXX – 5.28%, VMRXX – 5.28%). With the short-term T bills and Treasury Money Market VUSXX, your interest is state income tax free. MSB, MSPB rates posted at Schwab brokerage, but not yet at Vanguard brokerage. Except for posted MSB 2 ½ year at Vanguard, available at 4.70%.