Leading CD Rate of 5.55% Still Available Amid Declining Trend

As the Federal Reserve signals potential rate cuts, experts recommend locking in high CD rates now.

Newtek Bank's 6-month CD offering a leading rate of 5.55% APY remains the top choice for savers.
The number of CDs offering at least 5.50% APY has decreased, reflecting a broader trend of declining CD rates.
The Federal Reserve's decision to maintain its benchmark rate signals potential rate cuts later this year, likely affecting future CD rates.
Digital banks and online accounts are offering competitive CD rates, with some terms reaching up to 5.4% APY.
Financial experts advise locking in current high CD rates before anticipated rate cuts later in the year.