CD and Savings Rates Decline as Fed Continues Rate Cuts

Savers urged to lock in high CD rates as Federal Reserve's rate cuts are expected to continue through 2025.

The Federal Reserve's recent rate cuts have led to declining rates for both CDs and savings accounts, prompting savers to act quickly to secure higher returns.
Current top CD rates offer up to 5.50% for short-term commitments, with longer-term CDs providing guarantees between 4.00% and 4.50% until 2029.
High-yield savings accounts are still offering competitive rates, with the highest nationwide rate at 5.50% APY from Pibank.
The Fed is expected to continue reducing rates, potentially affecting future CD and savings account yields, making it crucial for savers to lock in rates now.
Despite the rate cuts, today's CD and savings rates remain historically high compared to pre-2022 levels, offering a significant return on savings.