The opportunity to open a high-earning CD could soon be gone. Here's why you should open an 18-month CD before August.
The interest rate climate could soon be changing. Thanks to a consistently cooling inflation rate , borrowers could soon see relief on everything from mortgages to personal loans and credit cards. While that will be a major boost for those in need of extra financing, it will come at a cost for savers who have benefited from today's high rates.
And while those rates aren't likely to move dramatically minus any action on behalf of the Fed, a rate cut doesn't need to happen for rates to fall. Lenders can easily adjust what they offer savers and borrowers in anticipation of a formal rate cut to come .
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