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Recommended reading

Money next to flashing sirens

Bankrate’s 2024 Annual Emergency Savings Report

Banking
If you’re struggling to pay off debt and build savings, you’re not alone.
By Lane Gillespie
12 min read
Woman watering plants.

Current CD rates for December 2024

Banking
Check out the latest CD rates from Bankrate’s weekly survey of banks and thrifts.
By Matthew Goldberg
4 min read
Savings account and money market rate forecast

Savings and money market account rates forecast for 2024: Yields will dip but remain higher than inflation

Banking
Expect savings and money market account yields to slide lower, but they still should outpace inflation
By Matthew Goldberg
2 min read

Exclusive insights from our expert analysts

“The sooner you lock in [with a CD rate], the better, because yields have peaked, but inflation is going to continue to decline throughout 2024.”

– Greg McBride, CFA

CD rates forecast for 2024: Expect banner year for savers with strong yields, lower inflation rate

The year 2023 came to a close with yields that had peaked on certificates of deposit (CDs) and other deposit accounts. Although Federal Reserve rate cuts are possible in 2024, it should remain a strong year for savers as annual percentage yields (APYs) stay high overall and inflation hopefully cools further.
Read more

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About Bankrate
Greg McBride

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Chief Financial Analyst

Sarah Foster

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Principal U.S. Economy Reporter

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Senior Economic Analyst

Latest articles

Federal Reserve Chairman Jerome Powell speaks at Fed press conference

In rare move, Fed issues emergency rate cut to bolster economy from coronavirus

It’s the first emergency move since October 2008, during the Great Recession.
Mar 03, 2020
Fed Chairman Jerome Powell speaks at press conference

Fed signals openness to rate cuts as coronavirus outbreak fuels economic uncertainty

With markets swooning, all eyes are now turning to the Fed.
Feb 28, 2020
A woman uses her Radius Bank mobile app.

How the Radius Bank acquisition by fintech LendingClub could impact consumers

In a historic first for fintechs, what benefits should customers look forward to?
Feb 20, 2020
President Donald Trump shakes the hand of Fed Chairman Jerome Powell

Was Trump right about the Fed and the need for lower interest rates all along?

The chief executive’s claims weren’t wholly correct — even if they ended up being right.
Feb 19, 2020
A woman looking at Ally Bank's new savings tools.

Ally Bank rolls out new features making it easier for consumers to save

Here’s what the online bank is offering to help customers boost their savings and meet financial goals.
Feb 05, 2020
A picture of the Citi building in Los Angeles

Citi unveils new low-cost robo-adviser and it’s free for some customers

Does Citi’s new robo-adviser offering make sense for your investments?
Jan 30, 2020

Fed holds rates steady, sticks with wait-and-see approach

What will get the Fed off the sidelines?
Jan 29, 2020
Man looking at bar graph amid Federal Reserve Eccles Building

January Fed forecast: Experts say rates will stay put, but here’s what could shift policy

The Fed will stay on the sidelines for an extended period, experts predict.
Jan 24, 2020
Calendar of 2023

Take the 52-week money challenge: What it is and how to do it

Use this challenge to stash more cash toward your savings goals.
Dec 19, 2024
Clocks are displayed across an image of a dollar bill.

Historical CD interest rates: 1984-2024

Take a look at the days when CDs were offering investors double-digit returns.
Dec 19, 2024
Woman watering plants.

Current CD rates for December 2024

Check out the latest CD rates from Bankrate’s weekly survey of banks and thrifts.
Dec 19, 2024
Financial manager meeting with couple in bank branch office

National average money market account rates for December 2024

Get the latest rates on top-yielding money market accounts.
Dec 19, 2024
Whimsical illustration of a hand putting a quarter into a miniature but realistic high end safe. As if it were a piggy bank

What is the average interest rate for savings accounts?

Comparing savings rates can ensure you get the best return on your savings.
Dec 19, 2024
Federal Reserve Board Federal Reserve Chairman Jerome Powell speaks during a news conference.

Fed lowers interest rates for third time this year, signals slower pace of cuts in 2025

Fed officials, however, are uncertain about how many times they’ll be able to cut borrowing costs in 2025.
Dec 18, 2024
Fed Chair Powell Holds News Conference Following FOMC Rate Decision

The Federal Reserve’s latest dot plot, explained – and what it says about interest rate cuts

This Fed communication tool is important, but be cautious when interpreting it.
Dec 18, 2024
Young Asian woman using smartphone while relaxing on armchair, checking her bank account via online banking and managing her finances. Online personal banking. Wealth management. Digital banking habits. Smart banking with technology

Here are the benefits of opening a CD right now following the Fed’s rate cut

Know the two major benefits of opening a CD now, even as interest rates decline.
Dec 18, 2024
Home decorated for autumn

The Fed just cut interest rates again. Time to tap your home equity?

It just might be. But don’t forget the fundamentals of how home equity loans work.
Dec 19, 2024

How the Federal Reserve affects HELOCs and home equity loans

If you’re looking at HE loans or have a variable-rate line of credit, pay attention to the Fed.
Dec 18, 2024

How does the Federal Reserve affect mortgages?

The Federal Reserve’s decisions have ripple effects, including for mortgages.
Dec 18, 2024
Fed Chair Powell Holds News Conference Following FOMC Rate Decision

The Federal Reserve’s latest dot plot, explained – and what it says about interest rate cuts

This Fed communication tool is important, but be cautious when interpreting it.
Dec 18, 2024
US-ECONOMY-FEDERAL RESERVE-RATE-POWELL

How the Federal Reserve affects business loans

The Fed’s latest cut means cheaper business loans. Here’s what it means for you.
Dec 18, 2024
Outside of the Federal Reserve building

How the Federal Reserve impacts personal loans

The Federal Reserve just lowered interest rates for the first time in four years.
Dec 18, 2024
Couple buying a car

When will car interest rates start dropping?

Auto rates will likely not decrease this year. Consider how to still save.
Dec 18, 2024
Calm focused female freelancer in casual clothes revising reports while sitting on soft couch at table and using computer in light contemporary apartment

Fed rate cuts won’t end the sting of high interest rates for subprime cardholders

Subprime borrowers are particularly affected by interest rate changes. Here’s how to prepare.
Dec 18, 2024
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