What happened to CD rates?

[jeep78]

It has been a couple of years since I looked, they are 20% or less of what they were then. (less than 1/5)

Was doing taxes and it is time to move IRA to other investments. CDs are NOT a good investment now.

 

[jeep78]

And they weren't great 2 years ago!

 

[TheGman]

Interest rates are staring to firm up a bit (10 year treasury) still not good.

 

[rumrunner55]

All interest rates are in the crapper, they want you to spend not save

 

[james357]

All interest rates are in the crapper, they want you to spend not save

When interested on home loans was 7.5% to 9% an affordable home was 130,000 to 170,000
Now the loan rate in a mortgage is 2.5 to 3% homes are 230,000 to 275,000
It's the monthly payment.
If interest on loans goes up the home value will go down.
But now the minimum wage for 40 hours is 15.00 or 32,000 a year a 18 year old and his 17 year old wife can afford a 190,000 to 220,000 home if rates stay at 3%
But hang on inflation is going to start kicking ass.
The deficit by 2025 will be 35 Trillion.
Our economy better start growing to be able to pay the interest.
But let's let in all the immigrants and welcome them to take our jobs and to bring disease.
I studied briefly economics when I was in college. The professor 1978 said that World War 2 got us out of the depression.
How are we going to get out of this mess??
Just use your imagination

 

[Defuzilier]

I have a few laddered CDs that I can't wait to mature. The rates have just plummeted and won't even outpace inflation. 1% for 5 years is laughable.

 

[medium187mph]

Man I looked into CD’s around 3 years ago and it was and still is an absolute joke...

 

[medium187mph]

Better offloading Ammo, Primers, and even bourbon... folks have gone absolutely full retard on that stuff and itching to pay 200% mark up

 

[rumrunner55]

Are CD’s insured if the issuing bank fails, like checking/savings is backed by FDIC (up to 250k)?

Yes typically

 

[jcsblairsville]

This may not be the proper venue but I help people with retirement accounts and CD alternatives. Just send me a PM if interested.