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?
Full Version: Why Are Cd Rates Going Down?
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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. 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? |
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