I'm Lucas Wysocki with your weekly look at Certificates of Deposit. The Federal Reserve's statement saying that it would implement QE3 spelled bad news for savers. The average yield on a one-year CD is down one basis point coming in at point-three percent. And for the first time ever, the 5-year CD dropped below 1 percent. It came in this week at point-nine-nine percent. Tying up one-hundred thousand dollars or more in a jumbo CD doesn't yield much better results. The average yield on a 1-year jumbo CD is only point-three-two percent while a 5-year jumbo dropped to 1 percent this week.
Until rates turn around on certificates of deposit, it's a smart idea to consider a high-yield checking account to place your money. Interest rates can be found that are dramatically better than CDs and since it's a checking account, your money isn't all tied up.
To shop around for that higher than average CD or to find a high-yield checking account that fits your needs, use the free search engine here at Bankrate.com. I'm Lucas Wysocki.
After a few weeks of hope for savers, CD rates dropped this week.
Yields on longer-term CDs increased.
Yields on longer maturity certificates of deposit inched higher.
Thinking about pulling cash out of a CD? Make sure you know how much it will cost first.
Long-term CD yields slipped this week.
Need help paying for college? Try these savvy, nontraditional ways to save money.
Not all items at dollar stores are good deals. But here are five finds that can be bargains.
Trim the fat around your grocery budget with these money-saving tips.
Looking for peace of mind in a rate or are you tempted by a lower rate in the beginning?
As the year winds down, tax planning is a must on the to-do list. Here are a few things to keep in mind.
Bankrate wants to hear from you and encourages thoughtful and constructive comments. We ask that you stay focused on the story topic, respect other people's opinions, and avoid profanity, offensive statements, illegal contents and advertisement posts. Comments are not reviewed before they are posted. Bankrate reserves the right (but is not obligated) to edit or delete your comments. Please avoid posting private or confidential information, and also keep in mind that anything you post may be disclosed, published, transmitted or reused. We do not permit the inclusion of hyperlinks in comments and may remove any comment that includes a hyperlink.
Get cost-cutting tips for buying, selling and maintaining your wheels. Delivered monthly.
With gas prices at the lowest they have been for Thanksgiving in five years, holiday travel this year will be up significantly, says AAA.
... Read more