Hurry! Lock in CD Rates While You Can!

I suspect you’ve heard by now that the Fed unexpectedly slashed interest rates this morning down to 3.50%. Will the rate slashing stop now? My magic 8-ball says, “outlook does not look good.” :-)

In other words, there’s no time like the present to lock in a CD. Sadly, I’m afraid that any remaining 5% savings accounts and CDs will soon be flirting with extinction. Heck, even 4% accounts will soon be scarce!

Yesterday I locked in a 7-month CD with IndyMac Bank at 5.15% APY. It was ideal timing - rates have already dropped slightly, with more rate cuts undoubtedly looming.

A Few CD Options

Here are a few possibilities, with rates current as of this typing.

Once again, these rates may already have changed by the time you read this, so please double-check before you pull the trigger.

Useful Links:

Do you want to be free from your debt? IVA is the real alternative if you are facing bankruptcy.

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