Joined Jan 2016 L2: Beginner
What Caused 1 Year CD Rates to Drop This Week
January 4, 2018 at 06:02 AM
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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