CDs Safe Haven? Where to Find the Best Rates
TheStreet.com regularly goes in search of the best rates for various banking products. Today's focus is on short-term CDs.
Has the wildly unpredictable stock market got you jittery?
You can put your
And they're falling.Rates on three- and six-month CDs in the secondary market had increased about five times to mid-2006 from early 2004, according to the Federal Reserve's Statistical Releases. They leveled off at more than 5.3% for just over a year, and have fallen markedly since December, losing around two percentage points, spurred on last week by the Federal Reserve's surprise rate cut. If the Fed shears rates during its meeting this week -- as some speculate -- CD rates may fall further. Whether or not they'll hit 2004 lows is anybody's guess, says Philip van Doorn, analyst at TheStreet.com ratings. The previous low was brought on by fallout from Sept. 11, 2001 and the bursting of the dot-com bubble, says Mr. Van Doorn, and the new bottom will depend on just how bad economic conditions get. So for the bearish among you, we searched around for short-term CD rates on
And for those looking to guarantee rates for longer, Internet bank EverBank is offering 4.7% on a five-year investment with a $1,500 minimum.
Elsewhere, here's a look at the national averages for CDs of various types: To search for local rates on CDs, click
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV