Open a High-Yield CD This December to Lock in Today's Attractive Rates Before They Potentially Drop in 2024
• Rates are very high - You can lock in an APY of 4-5% or even as high as 7% on a CD right now.
• Returns add up - A $5,000 1-year CD at 4.5% would earn $225 in interest. Over 3 years that would be $705.
• Rates may drop in 2024 - As inflation cools, the Fed may lower rates, so lock in now.
• Alternatives aren't as good - Savings and money market rates aren't as high as CDs right now.
• It's the right time - With high rates that may fall in 2024, December 2023 is a prime time to open a CD.