CD rates are so low a worm couldn’t crawl under them, particularly in Pittsburgh, which boasted the lowest CD rates in the country for the month of May.
The only reason to buy a CD these days is for the piggy bank function. It keeps savers from spending money but doesn’t offer a lot in returns.
In the weird world of prolonged near-zero interest rates, the premium banks used to pay CD investors to lock up their money is disappearing.
CD rates plumbed new depths in April. Rates varied though. Savers in Cincinnati had access to CD rates half a percent higher than people in Pittsburgh.
Billionaire investor Warren Buffett says he sympathizes with CD investors hard-hit by years of falling CD rates.
Finding special CD offers takes some work. Savers may have to call the bank or credit union or go to the website to find out what specials are on tap.
If your bank isn’t up to snuff when it comes to capital, it’s possible the FDIC is capping the CD rates it can offer you.
With rates at historic lows, Americans are abandoning CDs en masse. Adjusted for inflation, CD balances nationwide are at their lowest level since 1968.
CD rates are at historic lows and still falling, and yet actress Mila Kunis and many others are sticking with them. Why?
CD rates are still depressingly low, but CDs have other lovable features.