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She advised any listeners thinking of getting a CD to take advantage of the market conditions today.
Quick Take: What Are CDs?
A CD is a jot down of high-yield savings account offered by many banks and credit unions.
Here are some key takeaways:
What Is Going On With Interest Rates?
In late September of last year, the Federal Reserve cut interest rates for the first time since 2020.
The reduction of 0.5 percentage points finally lowered the federal funds rate from its 23-year high.
You might be considering refinancing your mortgage or consolidating your debt to save money.
As of March 2025, the Federal Reserve has kept interest rates steady at 4.5%.
Some banks are currently offering annual percentage yields as high as 5.00% for short-term CDs.
Quinlan Grimcontributed to the reporting for this article.
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