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The Apex Blog

Financial Insights and Our Latest Thoughts

MarketWatch: Those 5% CDs are slowly disappearing — but don’t worry, here’s where to find them now Thumbnail

MarketWatch: Those 5% CDs are slowly disappearing — but don’t worry, here’s where to find them now

Following a stretch of highs, many CD rates have started decreasing this year. From mid-December 2023 to mid-February 2024, the midpoint for one-year CD rates at 21 online banks and credit unions dropped from 5.30% to 5.00% APY, according to NerdWallet analysis. In addition, while in November of 2023, there were over 3,900 CDs available with rates of 5% or greater, by the third week of March 2024, that number was under 3,000, says Bryan Johnson, chartered financial analyst at CDValet.com.

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CBS News: 5 expert strategies for maximizing your CD returns this spring Thumbnail

CBS News: 5 expert strategies for maximizing your CD returns this spring

With the Federal Reserve once again holding rates steady following its March meeting, savers have a continued opportunity to benefit from high interest rates on certificates of deposit (CD) accounts. In today's environment, savers can find CDs paying above a 5% annual percentage yield (APY). However, the Fed still foresees three rate cuts happening later this year, and that could cause CD rates to fall too.

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