On the Hunt for Long-Term CD Rates

TheStreet.com regularly goes in search of the best rates for various banking products. Today's focus is on long-term CDs.

You've found a long-term CD rate you like and, before CDs fall any lower, you want to lock it in.

Long-term CD rates have dropped over 0.35% in the past week, according to BankingMyWay.com. And with the Federal Reserve's surprise rate cut last week, and another 0.5% slash by the Fed this afternoon, CD rates may not have hit bottom. (BankingMyWay numbers are weighted averages of rates it received over the previous week.)

But if you are buying the CD with a check, which you might do if you're dealing with an online bank, be aware: The funds will likely have to be received by the bank within a certain number of days. ...