Columbus, OH

The clock is ticking on high certificate of deposit rates. You can still score an annual percentage yield, or APY, up to 5.25% with today’s best CDs, but APYs have been on the way down for months. And with a Federal Reserve rate cut likely around the corner, they’re falling even faster these days.

Best CD Rates Today, Aug. 28, 2024: Time’s Running Out on APYs Up to 5.25%

CBS News

We may receive commissions from some links to products on this page. Promotions are subject to availability and retailer terms.
  It may be hard to believe now, but it wasn't that long ago that mortgage interest rates were near historic lows. On August 27, 2020, the average rate on a 30-year loan was 2.91%. One year later, it had dropped even further to just 2.86%. However, as the pandemic and influencing economic factors waned, inflation rose dramatically and by June 2022 it was at a 40-year high. Interest rates soon followed, and by August 2023, the average mortgage interest...

Here's when mortgage interest rates could fall below 6%

Dozens of nationally available CDs will let you lock in a rate of 5% or better—up to a high of 5.40%. But a Fed rate cut is almost certainly coming next month, and it's already pushing CD rates lower. That means the best time to lock in a CD...

Don't Wait to Guarantee a 5% CD Rate—APYs Could Start Falling Fast

We may receive commissions from some links to products on this page. Promotions are subject to availability and retailer terms.
  Mortgage rates have been high over the last few years, but it appears that may be changing. With inflation cooling, mortgage rates finally dropped in August to 6.47%, the lowest rate across the prior 15 months. Federal Reserve Chair Jerome Powell also suggested last week that the central bank will cut rates in September, which would likely have an impact on mortgage rates. Although these anticipated interest rate cuts offer prospective buyers hope, there's no guarantee of how low rates...

How low could mortgage rates drop this September?

Many or all of the products here are from our partners that compensate us. It’s how we make money. But our editorial integrity ensures our experts’ opinions aren’t influenced by compensation. Terms may apply to offers listed on this page. APY = Annual Percentage Yield. APYs are subject to change at any time without notice.

Here's What Could Happen to CD Rates if the Fed Cuts Interest Rates Next Month

Credit card charge-offs and credit card loan delinquencies continue to be at a more than 12-year high, according to the Federal Reserve’s second-quarter report. Second quarter 2024 data reveals that credit card charge-offs increased from 4.16% to 4.38%, a 12.5-year high not seen since Q4 2011. Charge-offs are continuing to increase at a fairly steep slope. With 9–12-month lag time to placements, the volume should continue to increase through at least mid-2025.

Credit Card Charge-Offs and Delinquencies Increased to More Than a 12-year High, According to Federal Reserve’s Q2 Data.

The Hill

A record number of 401(k) accounts contained $1 million or more during the second quarter of 2024, according to an analysis from Fidelity Investments. There were about 497,000 so-called 401(k) “millionaires” last quarter, a 2.5 percent increase from 485,000 during the first quarter, according to Fidelity’s analysis of 24 million 401(k) accounts across 26,000 employer-sponsored…

401(k) millionaires reaches record high: Fidelity

Forbes Advisor

Rates on savings accounts are rising. You can now earn 5.84% or higher on your savings. Searching for an account where you can put some money aside? Here’s a look at some of the best savings rates you can find today. Traditional Savings Account Rates Today. Traditional savings accounts,...

High-Yield Savings Account Rates Today: August 29, 2024

With the Fed expected to lower rates in September, it's a smart time to open CDs that guarantee today's great returns well into the future. Below we lay out more than 30 excellent options for locking in a CD rate until 2026, 2027, or even 2028–2029—with returns up to 5.25%.

The Best CDs to Lock in a Rate Until 2026 to 2029—Before the Fed Cuts Rates

The Motley Fool

Worried about how to make your money work for you once the Fed cuts rates? Find out how to continue to earn decent returns.

3 Ways to Keep Earning 5% Returns After the Fed Cuts Rates

Bath & Body Works expects net sales to fall between 2% and 4% this year, worse than its previously offered guidance. CEO Gina Boswell called the lower range "prudent" amid challenging consumer spending trends. The retailer also missed expectations with its second-quarter net sales. Bath & Body Works (BBWI) shares...

Bath & Body Works Offered a 'Prudent' Outlook. Its Shares Are Falling

Apple shares are likely to remain in focus ahead of a Sept. 9 event where the tech giant is expected to unveil the iPhone 16 with AI capability, as well as new versions of the Apple Watch and AirPods. In other news, the tech giant announced late Monday that it...

Watch These Apple Stock Price Levels Ahead of Expected iPhone 16 Launch

The market is expecting an interest rate cut in September, and the Fed just all but confirmed it will happen.

The Fed Just Flagged Its First Interest Rate Cut Since March 2020. It Might be Bad News for Stocks.

Loretta Mester, former Cleveland Fed president and CNBC contributor, joins 'Money Movers' to discuss what to expect from the Federal Reserve, how the Fed thinks about the amount of rate cuts, and much more.

Fed will be moving rates down in September, says former Cleveland Fed president

California State

The national average price for a regular gallon of gas was $3.36 going into Labor Day weekend. In much of the South, drivers pay the lowest prices of less than $3 a gallon. Prices on the West Coast are some of the highest in the nation but are lower than they were last year.

These States Have the Most Expensive Gas Prices This Labor Day Weekend

Business Insider

These are today's mortgage and refinance rates. Mortgage rates are down as the Fed gears up to start lowering its benchmark rate in September.

Mortgage Interest Rates Today, August 27, 2024 | Rates Drop Below 6% as Powell Signals September Cut

Markets Insider

The Fed is shifting its gradualist stance amid uncertain labor market data, which will prompt steeper rate cuts, JPMorgan analysts say.

The Fed has been 'shaken' from its path by a softening labor market and will deliver steeper rate cuts as a result, JPMorgan says

Kohl's beat profit estimates for the second quarter, despite lower sales, as the discount department store operator cut costs. Kohl's warned about a challenging consumer environment but raised its full-year outlook for earnings per share. Kohl's shares edged higher Wednesday, but they've lost nearly a third of their value this...

Kohl's Cuts Costs to Address a Challenging Consumer Environment

Jackson, WY

Axios

Two years ago at the annual symposium in Jackson Hole, Fed chief Jerome Powell offered a blunt, succinct declaration that the Fed was ready to tolerate economic pain in order to fight inflation. He wasn't quite as blunt, nor as succinct, in remarks Friday, but the message was similarly hard to miss.

Get ready for rate cuts

Long-term bonds should rise as interest rates fall, making the Vanguard Long-Term Bond ETF a good pick. REITs benefit from lower rates, boosting the Vanguard Real Estate ETF. Rate cuts typically help small-cap stocks, which should be great for the Vanguard Small-Cap Value ETF. All three of these Vanguard ETFs...

3 Vanguard ETFs to Buy Hand Over Fist if the Fed Cuts Rates in September

NewsBreak

Top CDs Today, Aug. 26, 2024 - Lock in a Rate of 5.15% to 5.40% Until 2025

Though the best CD rates have been drifting lower ahead of a likely Fed rate cut next month, all the leading rates have held their ground...

Top CDs Today, Aug. 26, 2024 - Lock in a Rate of 5.15% to 5.40% Until 2025

Comments / 0