The top rates for 3-year and 5-year CDs both fell amid a month of decliningꦓ yields, as the Federal Reserve lowered the likelihood of any more 💮interest rate hikes this cycle.

The silver lining for CD shoppers, though, is that you can still get the industry-leading APY of 5.76% from two different institutions: for a 6-month term and for 13 months. The overall top rate for CDs was at 6% on Nov. 30, and rates have been sliding downward ever since.

Below you'll find featured rates available from our partners, followed by details from our complete ranking of the best CDs available nationwide.

If you're looking for a nationwide CD paying a top rate of at least 5.75%, the longest available term is currently 澳洲幸运5官方开奖结果体彩网:13 months. That's the Dow Credit Union CD with a 5.76% A🌳PY.

Despite rate declines in longer-term certificates, some good buys remain to be had. You can still get 5.50% APY on a 2-year CD. Anyone with an even longer time horizon can snag 5.13% APY for 4 years or 5.00% APY for 5 years.

For anyone with a jumbo-sized deposit, last week you could earn 5.85% APY. Now the leading jumbo offer comes fro🙈m , w𝔉hich is paying 5.80% on an 18-month term. That is now also the highest nationwide CD rate among both standard and jumbo certificates.

How High Will CD Rates Go This Year?

The Federal Reserve opted to 澳洲幸运5官方开奖结果体彩网:hold rates steady today at a 22-year high, the third meeting in a row it's done so. The Fed has been aggressively combating decades-high inflation since March of last year, raising the 澳洲幸运5官方开奖结果体彩网:federal funds rate with fast and furious hikes in 2022 and the🔜n m๊ore moderate increases in 2023.

This has created historically favorable conditions for CD shoppers, as well as for anyone holding cash in a 澳洲幸运5官方开奖结果体彩网:high-yield savings or 澳洲幸运5官方开奖结果体彩网:money market account.

Inflation has cooled significantly in recent months, despite 澳洲幸运5官方开奖结果体彩网:a very mild drop in November. And though Chair Powell said the rate-setting committee is not taking the possibility of future rate hikes off the table, he also said in his press conference that members discussed lowering rates.

The Fed's dot plot shows that no members of the rate-setting committee predict another rate increase in 2024. Instead, expectations are for three rate cuts in 2024, for a total drop of 0.75%.

This has significant implications for CD shoppers and other savers. Banks and credit unions base their deposit rates on the fed funds rate. Even talk about cuts means the wild runup we've seen in deposit rates is likely over.

"The Fed virtually made it official that there'll be no more rate hikes this cycle," Robert Frick, corporate economist with Navy Federal Credit Union, said in a statement.

"That's a call to action for savers to lock in current high CD rates and other rates in safe vehicles such as 澳洲幸运5官方开奖结果体彩网:Treasuries," Frick continued. "Those rates will likely only drop from here, and given they're higher than t𒁏he rate of inflation, 🍃savers can earn real returns for now."

As we always caution, trying to predict the Fed's future rate moves is an uncertain exercise. But for now, it seems CD rates are likely to plateau or soften near their current levels.

How We Find the Top CD Rates Today

Every business day, Investopedia tracks the rate data of more than 200 banks and credit unions that offer CDs to customers nationwide and determines daily rankings of the top-paying certificates in every major term. To qualify for our lists, the institution must be federally insured (FDIC for banks, NCUA for credit unions), and the 💮C꧃D's minimum initial deposit must not exceed $25,000.

Banks must be available in at least 40 states. And while some credit unions require you to donate to a specific charity or association to become a member if you don't meet other eligibility criteria (e.g., you don't live in a certain area or work in a certain kind of job), we exclude credit unions whose donation requirement is $40 or more. For more about how we choose the best rates, 澳洲幸运5官方开奖结果体彩网:read our full methodology.