CD Rate Declines
With the fed continuing to cut short term rates to try and fight the pressures of recession. People needing fixed income are finding CD rates dropping like a rock. E-Loan’s current rates for a 3 month CD are running 2.75% APY. But keep your eyes on the long term CD’s as they usually show you how people feel the economy will be in the future. Currently with the 2 year at 3.25% and the 4 year at 3.72%, the rates are starting to show that the downturn is expecting to end within the next 12 to 18 months.
