Quote:
Originally Posted by weissheit
I think CD rates are for a different forum but:
I would not be one to lock in for such a long term on a CD rate this low when everyone knows the FED and the market are going to have to increase rates to quash inflation like in the 80's. I remember my grand mother being annoyed at the paltry 6% the bank was offering when her 10 year CDs came of for renewal in the mid 90's. She had a rate of something like 10-12%!!!
Go online high yield or short term CDs. I've got a few 5% at a term of 4 years and the rest in high yield online savings for when rates are higher.
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I too wouldn't know why anyone would lock their money up for such a long period of time. The only people I'd see doing this would be those closing in a retirement and wanting to shore-up some cash on the side.
I can't wait till the Fed starts raising rates again. I remember when my bank was at 5.05%, now were're at 3%