Maximize Your Savings with Today's Top CD Rates - May 5th Update
TL;DR Summary
CD rates have started to move after the Federal Reserve's latest rate increase. The top rate across all terms remains at 5.50% APY for a 9-month term, but a new option to lock in 5.25% APY for 2 years has emerged. Several institutions have increased their CD rates, and the daily rankings now include eight certificates that pay 5.25% APY or better. The Federal Reserve may pause its hikes at the next meeting, scheduled for June 13-14, making it a good time to consider locking in a guaranteed CD rate.
- Top CD Rates Today, May 5 Investopedia
- Today's top CD rate roundup: May 5, 2023 – USA TODAY Blueprint USA TODAY
- CD Rates Today: May 5 -- Earn 5.25% for 24-Month Term GOBankingRates
- Fed's Rate Hike Could Be Its Last. Is Now the Time to Move Your Money to a CD? The Motley Fool
- 'You’re seeing yields of 5.10%.' Is it time to consider a CD? MarketWatch
- View Full Coverage on Google News
Reading Insights
Total Reads
0
Unique Readers
12
Time Saved
4 min
vs 5 min read
Condensed
89%
852 → 90 words
Want the full story? Read the original article
Read on Investopedia