July 5, 2023: Mortgage Rates Soar Above 7%
TL;DR
The top rate for an 18-month certificate of deposit (CD) is now 5.50%, up 5 basis points from Friday. The best 1-year CD rate fell 2 basis points to 5.50%. Nineteen CDs in the daily rankings offer a rate of at least 5.35% APY. The highest available rate on a nationwide CD is 5.65% APY for a 9-month term. The Federal Reserve is expected to implement a rate increase at its next meeting, which could push CD rates higher.
Topics:businessfinance#cd-rates#certificate-of-deposit#federal-reserve#finance#interest-rates#savings
- Top CD Rates Today, July 5, 2023 Investopedia
- Current Mortgage Rates for July 5, 2023: Rates Trend Upward CNET
- Mortgage rates surge above 7%: July 5 Baltimore housing market WBAL TV Baltimore
- Mortgage Rates Now Well Into 7% Range Mortgage News Daily
- Today's top CD rate roundup: July 5, 2023 USA TODAY
- View Full Coverage on Google News
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