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New Bankrate data shows many Americans are slowly making progress on their savings.
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Check out the latest CD rates from Bankrate’s weekly survey of banks and thrifts.
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Expect savings and money market account yields to slide lower, but they still should outpace inflation

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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About Bankrate
Greg McBride

Greg McBride, CFA Arrow Right Icon

Chief Financial Analyst

Sarah Foster

Sarah Foster Arrow Right Icon

Principal U.S. Economy Reporter

Mark Hamrick

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Senior Economic Analyst

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