SEATTLE –A new analysis reveals that as of Dec. 15, 12-month certificate rates shifted the most among standard term offerings across all APY benchmarks when comparing December to November.
The report, from CD Valet, said that despite the changes, 12-month CDs remain an attractive option for shorter-term, higher-yield offerings, with the top 10% APY coming in at 3.90%.
“As projected, APYs have slightly decreased for standard term CDs in response to the FOMC’s most recent rate cut,” Mary Grace Roske, head of marketing & communications at CD Valet, said in a statement. “However, opportunities still abound; we currently track over 2,500 CD rates that are at or above 4.00%, and savers can now look to the long end of the yield curve to secure greater returns. It’s been a while since the longer-term rates have been a real draw for savers.”
Additional Findings
CD Valet’s APY Checkpoint is a real-time tool that helps consumers instantly see how their CD rate compares against the market, based on the over 40,000 rates in the marketplace from more than 5,000 banks and credit unions nationwide.
Added Roske, , “Based on current APY benchmarks, 60-month CDs now offer APYs equal to or better than 24-, 36-, and 48-month CDs. Those wanting to lock in a strong rate now should secure a 12-month or shorter CD while those seeking the greatest long-run return available now should consider opening a 60-month CD.”
