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What Caused 1 Year CD Rates to Drop This Week

66 30 January 4, 2018 at 06:02 AM
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So I have a 1 year CD scheduled to mature on Jan 5, 2018. When this week started mulitiple institutions (bankrate.com) showed 1 year CDs in excess of 2% APY. Financial predictions guestimate that the FED will have 3 rate increases for 2018. Also, can't find financial reasons to justify the "hurd effect" decrease back to the 1.75% APY range. Any explanation? Thought some of these 2% rates may be some kind of holiday promotion thing. If this is the case, may want to get a No Penalty CD to better time my CD strategy for 2019. Appreciate any comment / ideas. Also, I am an oldster and I am not interested in stocks at this particular point in time.

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#2
Quote from PaCuLard
:
So I have a 1 year CD scheduled to mature on Jan 5, 2018. When this week started mulitiple institutions (bankrate.com) showed 1 year CDs in excess of 2% APY. Financial predictions guestimate that the FED will have 3 rate increases for 2018. Also, can't find financial reasons to justify the "hurd effect" decrease back to the 1.75% APY range. Any explanation? Thought some of these 2% rates may be some kind of holiday promotion thing. If this is the case, may want to get a No Penalty CD to better time my CD strategy for 2019. Appreciate any comment / ideas. Also, I am an oldster and I am not interested in stocks at this particular point in time.
Ally Bank had a promotion valid till 1/2/18. 12 Month CD at 2.0% APY and 11-month No Penalty CD at 1.75% APY.

this promotion expired, so back to regular rates.
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#3
Thanks but all is ok after all. Today is Jan 5 and Synchrony Bank is back up to 2%. Hopefully this will start a "hurd trend".
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Gona be mad if the rates keep going up just locked up on a CD an year term was considering going no penalty for the Ally bank 1.75 percent, but I don't expect rates to go up that much atleast on my guess. I guess CD fluctuate.
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