Time to Move Some C...
 
Notifications
Clear all

Time to Move Some Cash Into CD's?

1 Posts
1 Users
0 Likes
422 Views
(@pizzaman)
Honorable Member Customer
Joined: 3 years ago
Posts: 430
Topic starter  

CD rates have gone up a lot in the past 7 months. Many of the big brokerage houses offer brokered CDs that pay more than traditional CDs:

https://www.marketwatch.com/story/brokered-cds-pay-more-than-traditional-cds-what-are-the-risks-and-should-you-buy-them-now-11668171598?siteid=yhoof2

If you are a client of Fidelity for example, their brokered CDs are at:

3 month 4.0%

6 month 4.5%

9 month 4.6%

1 year 4.7 %

So is now the time to buy or will CD rates continue to go up. Well, CD rates track the federal funds rate extremely closely which right now is 3.9%. The Feds are meeting one more time in 2022 and are expected to raise rates by 0.5%. This is what Forbes thinks:

https://www.forbes.com/advisor/banking/cds/will-cd-rates-go-up-in-2023/

Thoughts????


   
ReplyQuote
Share: