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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 September 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
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Chief Financial Analyst

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Principal U.S. Economy Reporter

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Senior Economic Analyst

Latest articles

Fed Chair Jerome Powell speaks during a news conference

Fed lowers interest rates with surprising jumbo half-point cut

Fed officials are trying to prevent an economic slowdown from getting worse.
Sep 18, 2024
Illustration of Fed Chair Jerome Powell

September Fed Meeting Live Updates: What the Fed’s big half-point cut means for you

Tune in to Bankrate’s live coverage of the Fed’s first rate cut since 2020.
Sep 18, 2024
Women using digital tablet to check her finances at home office

How the Federal Reserve impacts savings account interest rates

For savers, here’s what to consider when the Fed raises interest rates.
Sep 18, 2024
Federal Reserve Eccles Building illustration

Fed’s interest rate history: The federal funds rate from 1981 to the present

The key benchmark has been as high as 20 percent — and as low as 0 percent.
Sep 18, 2024
Fed chair Jerome Powell walks into a conference

Biggest winners and losers from the Fed’s interest rate cut

The Federal Reserve announced that it’s lowering interest rates following its September 17-18 meeting.
Sep 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 rates cuts

This Fed communication tool is important, but be cautious when interpreting it.
Sep 18, 2024
Fed Chair Jerome Powell speaks during a Senate Banking, Housing, and Urban Affairs Committee hearing.

The Fed just cut interest rates. Here are 12 key money moves to make

Rate cuts mark a new era for the Fed. Here’s what you should do as a consumer.
Sep 18, 2024
Illustration of a US Federal Reserve ink stamp

6 key ways the Federal Reserve impacts your money

Every financial decision you make is impacted by the Federal Reserve.
Sep 16, 2024
Woman jumping in the air with cash spread out behind her like wings. A now hiring sign hangs in the background.

Survey: Despite a red-hot job market, top economists see a major slowdown in employment coming over the next year

The strong economy isn’t leading economists to rethink their job market forecasts.
Oct 10, 2023
Woman looking at fruit while grocery shopping

Survey: Inflation could remain stuck above Fed’s 2% target until 2025

How hard will the Fed have to push to slow the economy enough?
Oct 10, 2023
Woman covering face with hands. Clouds, caution sign, and cash float cartoonishly behind her

Survey: Odds of a recession by September 2024 fall to 46%

Will a recession not wreck the economy’s party after all — or is it just late?
Oct 10, 2023
Money rain, woman rising hands up with toothy smile on face

4 money moves to make while rates are high

With rates still high, now is a good time to build your savings and pay off debt.
Oct 05, 2023
A man takes a picture of a check.

7 tips for using mobile check deposit

Depositing a check using a smartphone is easy and can save you a trip to the bank.
Oct 03, 2023
Woman using mobile phone at the bar

What’s the difference between a money market account and a money market fund?

These accounts sound similar, but there are some key differences to know.
Oct 03, 2023
U.S. capital building with a blurry DANGER sign in front

Government shutdown guide: From SNAP benefits to Social Security, 8 key ways your money could be impacted

Shutdowns range from a minor inconvenience to a major financial disruption.
Oct 02, 2023
A collection of assorted items: old analog alarm clock, padlock, keys, a check, a hand holding cash

What is a CD (certificate of deposit)?

CDs often pay better interest than savings accounts and can amp up your nest egg.
Oct 02, 2023
Man working on laptop and cellphone simultaneously

Why now might be a good time to consider longer-term CDs

If you’ve been thinking of getting a longer-term CD, you may want to make a move.
Sep 27, 2024
Fed Chair Jerome Powell speaks during a news conference

Fed lowers interest rates with surprising jumbo half-point cut

Fed officials are trying to prevent an economic slowdown from getting worse.
Sep 18, 2024
Illustration of Fed Chair Jerome Powell

September Fed Meeting Live Updates: What the Fed’s big half-point cut means for you

Tune in to Bankrate’s live coverage of the Fed’s first rate cut since 2020.
Sep 18, 2024
Man using credit card while online

The Fed cut rates. Why are credit card APRs still so high?

Credit card interest rates have a high mark up over the prime rate. Why are card APRs so high?
Sep 18, 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.
Sep 18, 2024
Women using digital tablet to check her finances at home office

How the Federal Reserve impacts savings account interest rates

For savers, here’s what to consider when the Fed raises interest rates.
Sep 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.
Sep 18, 2024

How does the Federal Reserve affect mortgages?

The Federal Reserve’s decisions have ripple effects, including for mortgages.
Sep 18, 2024
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