However, for now, things appear to be looking positive for CDs, with current rates being the highest they've been since 2007.
Predicting CD rates accurately can be difficult, since banks and credit unions decide rates based on a number of factors including the Federal Reserve interest rate and the state of the economy.Average CD rates in the seventies fluctuated between a low of 3.61% in February 1972 and a high of 13.43% in December 1979.What were the interest rates on CDs in the 70s?.Then, during the recession, rates began to fall, reaching 0.2% in January 2010. If you shop around, you can find banks offering 5.00 APY or more on CDs. The last time that CD rates were at or above 5% was before the 2008 recession in October 2007. National average rates for 12-month CDs stand at 1.85 as of November 20, 2023, but many banks offer much higher rates.When was the last time CD rates were 5%?.The all-time high for CD interest rates was in December 1980, when CD rates reached an average of 18.65%.What was the highest CD rate in history?.Here are the answers to some of the most frequently asked questions regarding CD rates.