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If you’re struggling to pay off debt and build savings, you’re not alone.
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Check out the latest CD rates from Bankrate’s weekly survey of banks and thrifts.
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Expect savings and money market account yields to slide lower, but they still should outpace inflation

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“The sooner you lock in [with a CD rate], the better, because yields have peaked, but inflation is going to continue to decline throughout 2024.”

– Greg McBride, CFA

CD rates forecast for 2024: Expect banner year for savers with strong yields, lower inflation rate

The year 2023 came to a close with yields that had peaked on certificates of deposit (CDs) and other deposit accounts. Although Federal Reserve rate cuts are possible in 2024, it should remain a strong year for savers as annual percentage yields (APYs) stay high overall and inflation hopefully cools further.
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Greg McBride

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Chief Financial Analyst

Sarah Foster

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Principal U.S. Economy Reporter

Mark Hamrick

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Senior Economic Analyst

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