"Latest Updates on High-Yield CD and Savings Account Rates"

The top CD rate in the market dropped from 6.00% APY to 5.75% APY, but there are still several institutions offering CDs with rates of 5.75% APY. The number of nationally available CDs paying 5.50% APY or higher has increased to 53. The leading jumbo CD rate is 5.85% APY. The Federal Reserve is expected to hold rates steady in its upcoming meeting, but there is a 40-45% chance of a rate hike later this year. Shoppers can find rates of 5.55% APY for a 2-year CD and 5.23% APY for a 3-year CD. Jumbo CDs may not always offer higher rates than standard CDs.