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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
A large pile of cash next to a padlock

Here’s how much $100,000 in a CD could earn you in 1 year

A one-year CD can be a safe and worthwhile option, especially turning to high-yielding online banks or credit unions.
Aug 27, 2024
Young person writing on a notepad

Guide to saving money to move out

Whether you hope to buy a home or just rent for a while, a solid savings plan is the key to finally moving out of your parents’ house.
Aug 27, 2024
Young mother looking for a job using internet

Unemployment overpayment: What to do when your state wants the money back

Overpaid in unemployment benefits? Here’s how to resolve the issue efficiently.
Aug 26, 2024
Unrealistic depiction of cash moving directly from phone to phone

How to send or request money with Zelle

Follow these steps to send or request money easily with Zelle.
Aug 26, 2024
Banker and client talking

Does closing a bank account hurt your credit?

Closing a savings or checking account that’s in good standing won’t hurt your credit in any way.
Aug 26, 2024
Someone watering a plant that grows cash

Here’s how much $100,000 in a high-yield savings account could earn you in a year

Here’s how much $100,000 in a high-yield savings account can earn you.
Aug 26, 2024
Door open showing more open doors inside

Survey: In a cooling job market, 48% of workers plan to look for a new job in the next year

The slowing job market isn’t completely deterring workers from looking for new jobs.
Aug 26, 2024
man using an atm on the street

Can you deposit cash at an ATM?

The short answer is yes, but policies vary from bank to bank.
Aug 22, 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
Banking_How-the-Fed-Rate-Affects-Housing_

What the Fed’s rate cut means for homebuyers and sellers

The Fed has cut rates by half a percentage point — how will that affect the housing market?
Sep 18, 2024
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