Why Are Cd Rates Going Down? - MoneyMakerGroup Forum

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Why Are Cd Rates Going Down?

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maxc83 View Member Profile	Mar 8 2008, 12:27 PM Post #1
MMG Member Group: Member Posts: 90 Joined: 8-March 08 Member No.: 137,044	Hi Everyone, My 6 month CD is up in May. When I purchased it I got an APY of 4.92%. Now they have been going down ever since. I think currently my bank offers them at 3.25%. Are there any reasons behind this? Will they eventually go back up sometime this year?

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annadenise View Member Profile	Mar 8 2008, 01:58 PM Post #2
MMG Member Group: Supporter Posts: 3,683 Joined: 30-December 05 From: Tampa, Florida Member No.: 16,455	QUOTE(maxc83 @ Mar 8 2008, 03:27 PM) [snapback]4735694[/snapback] Hi Everyone, My 6 month CD is up in May. When I purchased it I got an APY of 4.92%. Now they have been going down ever since. I think currently my bank offers them at 3.25%. Are there any reasons behind this? Will they eventually go back up sometime this year? Rates are down because the Fed has been cutting interest rates for several months with more cuts anticipated. Do not count on CD rates going up anytime soon. -------------------- A. Denise Wilson, Independent Trivita Business Affiliate 13083928 Rank- Director TRIVITATEAMBUILD The Fastest Growing Team in Trivita! We help you get 3!

maxc83 View Member Profile	Mar 8 2008, 04:49 PM Post #3
MMG Member Group: Member Posts: 90 Joined: 8-March 08 Member No.: 137,044	QUOTE(annadenise @ Mar 8 2008, 01:58 PM) [snapback]4735789[/snapback] Rates are down because the Fed has been cutting interest rates for several months with more cuts anticipated. Do not count on CD rates going up anytime soon. I thought they were just cutting mortgage rates? Are you saying that when they cut the rates, it lowers everything?