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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
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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.
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Latest articles

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
Fed Chair Jerome Powell speaks during a Senate Banking, Housing, and Urban Affairs Committee hearing.

The Fed has now cut interest rates three times. 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.
Dec 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.
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
Senior couple sitting at the kitchen table looking at digital tablet and recalculating their expenses.

Here’s why savers should find an APY that surpasses the rate of inflation

Consider a savings account with an APY above the inflation rate.
Dec 18, 2024
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Top high-yield savings accounts are still beating inflation. Here’s why that’s important

Savings yields topping inflation could let you hold onto your purchasing power.
Dec 18, 2024
Garage sale in grass on street curb with autumn trees background

17 legitimate ways to get money fast

Here are some places to look for a source of funds.
Dec 18, 2024
Woman writing in a planner

9 ways to save more money in 2024

Make 2024 the year you take your savings to the next level.
Dec 18, 2024
Man working on laptop and cellphone simultaneously

Even after three rate cuts, it’s still a good time for long-term CDs

If you’ve been thinking of getting a longer-term CD, you may want to make a move.
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
Fed Chair Jerome Powell speaks during a Senate Banking, Housing, and Urban Affairs Committee hearing.

The Fed has now cut interest rates three times. 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.
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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