Lock in now before rates start falling
- Top 10 CDs for February 2024 have high APYs, some reaching 6%
- Rates may start falling in the next few months
- Consumers should assess their financial goals before buying CDs
- Bankrate analyst predicts CD yields will slowly decline with expected Fed rate cuts
- Investors should remain cautious as economic conditions can change rapidly
- Factors to consider when choosing a CD: competitive interest rates, flexible terms, and early withdrawal penalties
- Average deposit rate for a 12-month CD is 1.86%, up from 1.28% a year ago
- Online-only banks and credit unions offer higher CD rates
- Consider how long you can afford to keep your money locked away in a CD
- Top 10 CDs for February 2024 include Financial Partners Credit Union, Resource One Credit Union, Dexsta Federal Credit Union, Local Government FCU, Hudson Valley Credit Union, Hughes Federal Credit Union, Space Coast Credit Union, Lafayette Federal Credit Union, Broadway Bank, and My eBanc
- Most accessible CDs for February 2024 include CIBC Bank USA, BMO Alto, Western Alliance Bank, Marcus by Goldman Sachs, and Ponce Bank
The top 10 CDs for February 2024 have high annual percentage yields (APYs), with some reaching 6%. However, experts predict that rates may start falling in the next few months. Before buying CDs, consumers should assess their financial goals and determine if CDs align with those goals. Bankrate analyst Greg McBride suggests that CD yields have already peaked and will slowly decline with expected Federal Reserve interest rate cuts. Investors should remain cautious as economic conditions can change rapidly. When choosing a CD, consider factors such as competitive interest rates, flexible terms, and early withdrawal penalties. The average deposit rate for a 12-month CD is 1.86%, up from 1.28% a year ago. Online-only banks and credit unions offer higher CD rates. It’s important to consider how long you can afford to keep your money locked away in a CD. The top 10 CDs for February 2024 include Financial Partners Credit Union, Resource One Credit Union, Dexsta Federal Credit Union, Local Government FCU, Hudson Valley Credit Union, Hughes Federal Credit Union, Space Coast Credit Union, Lafayette Federal Credit Union, Broadway Bank, and My eBanc. The most accessible CDs for February 2024 include CIBC Bank USA, BMO Alto, Western Alliance Bank, Marcus by Goldman Sachs, and Ponce Bank.
Public Companies: Financial Partners Credit Union (), Resource One Credit Union (), Dexsta Federal Credit Union (), Local Government FCU (), Hudson Valley Credit Union (), Hughes Federal Credit Union (), Space Coast Credit Union (), Lafayette Federal Credit Union (), Broadway Bank (), My eBanc (), CIBC Bank USA (), BMO Alto (), Western Alliance Bank (), Marcus by Goldman Sachs (), Ponce Bank ()
Private Companies:
Key People: Elizabeth Ayoola (NerdWallet investing expert and writer), Greg McBride (Bankrate Chief Financial Analyst), Ryan Bond (Principal Wealth Manager at Savvy Advisors)
Factuality Level: 7
Justification: The article provides information about the top CD rates for February 2024 and discusses the potential future decline in CD rates. It includes quotes from experts and provides tips on how to choose the right CD. The information provided seems to be accurate and objective, without any obvious bias or misleading information. However, it is important to note that CD rates can change over time, so readers should verify the rates and terms before making any decisions.
Noise Level: 7
Justification: The article provides information on the top CD rates for February 2024 and discusses the potential for future declines in CD rates. It includes quotes from experts and offers advice on how to choose the right CD. The article also lists the top 10 CDs rates for February 2024 and the five most accessible CD rates. Overall, the article stays on topic and provides relevant information for readers interested in CDs.
Financial Relevance: Yes
Financial Markets Impacted: The article provides information on CD rates and potential changes in interest rates, which can impact the financial markets and investors.
Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: The article discusses the potential impact of interest rate cuts on CD rates, which can have implications for investors and the financial markets.
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