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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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Chief Financial Analyst

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Latest articles

Pink piggy bank stuffed with dollar bills

Why now is still a good time to grow your money in a deposit account – even as rates decline

Even as interest rates drop, some top-yielding savings accounts remain competitive.
Dec 23, 2024
Woman checks mail

IRS sending $1,400 stimulus checks to 1 million Americans — here’s how everyone else can save the same amount

The Internal Revenue Service is automatically sending $1,400 stimulus payments to about one million Americans who never claimed their COVID-19 relief checks from 2021, according to a recent announcement. [...]
Dec 23, 2024
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
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 couple managing finance and investment online

Interest rates on top-yielding CDs are dropping. Here’s what that means for savers

There’s still time to lock in a high-yielding CD as the Fed cuts rates.
Dec 18, 2024
Cropped shot of a businessman using his computer in his home office

Which CD term is best in a lower rate environment?

Find out which CD term is best for your financial goals in a lower rate environment.
Dec 18, 2024
Percent symbol with people holding money that is many dollar bills. Concepts of the banking system, rising interest rates, inflation, deflation, and savings.

What to do when your CD matures in a falling rate environment

Here’s how to proceed when your CD matures during falling rates.
Dec 18, 2024
Federal Reserve Chair Jerome Powell speaks at post-meeting press conference

Fed decision: Interest rates held steady, sees rates at zero through at least 2023

Expect this lower-for-longer interest rate environment to persist until the economy is back on track.
Sep 16, 2020
A photo of a check from the Treasury Department

Second stimulus check: How much money could you get?

The plan includes direct aid to taxpayers: $1,200 to individuals and $500 per child and dependent adult.
Sep 16, 2020
Donald Trump and Jerome Powell speaking from the White House Rose Garden

Here’s what a Trump or Biden presidency would mean for banking

Either way you look at it, there’s going to be some whiplash — possibly weighing on consumers’ wallets.
Sep 16, 2020
A framing art gallery is closed in Venice Beach, California, during the coronavirus pandemic.

When will the U.S. economy get back on track following coronavirus shock? Watch for these 5 signs

The return to normalcy could happen later — rather than sooner. 
Sep 15, 2020
Two people under umbrella using tablet

How to protect your money from rate decreases with a CD

The Fed’s recent actions may force savers to start thinking differently about their money.
Sep 14, 2020
Federal Reserve Eccles Building in Washington, D.C.

Preview of the Fed meeting: 4 key things to watch as officials look to prop up economic recovery

Now may come the hardest part, both for consumers and Fed watchers.
Sep 11, 2020
A person wears a protective face mask outside a GNC store.

Why the coronavirus crisis could cause a double-dip recession — and how to prepare for one

Some forecasts suggest a resurgence in coronavirus cases could tip the financial system over again. 
Sep 10, 2020
A car hits a tree

What to do if you have no emergency savings

If you’re running out of emergency funds, there are steps you can take to buy some time.
Sep 10, 2020
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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