Anybody else remember there being 5 year CDs at 5+% years ago? I could have sworn I saw those advertised back in the late 90’s - early 00’s. I didn’t get one because stocks were all the rage.
Nowadays, banks won’t offer 5% for more than 18 months or so. It seems like they’re expecting interest rates to come back down in the next couple of years.
Yeah I’ve seen projections for 100-200 basis point rate cuts in the next 12 months. I don’t know if I would expect more than 75 or so but anyway. Rates should go down.
Agreed. I think they’re going to hold longer than people expect. No point in burning all your ammo to fight a real recession. But I’m just a layperson.
Anybody else remember there being 5 year CDs at 5+% years ago? I could have sworn I saw those advertised back in the late 90’s - early 00’s. I didn’t get one because stocks were all the rage.
Nowadays, banks won’t offer 5% for more than 18 months or so. It seems like they’re expecting interest rates to come back down in the next couple of years.
Yeah I’ve seen projections for 100-200 basis point rate cuts in the next 12 months. I don’t know if I would expect more than 75 or so but anyway. Rates should go down.
I’m thinking something along those lines. It could be another 5-6 months before inflation cools down to where the Fed is happy.
Agreed. I think they’re going to hold longer than people expect. No point in burning all your ammo to fight a real recession. But I’m just a layperson.
I just got one for 23 months at 5.3%.
But yeah, it’s definitely weird seeing shorter term CDs with higher rate than long term, since my whole life longer term was higher interest.