With just two days left in 2023, there are still only two nationwide CDs with rates of 5.75% or better. The top CD rate today remains 5.79% APY, available on an 8-month term from . The second-best rate today is once again 5.75% from ,🦹 also on an 8-month term.

Top CD rates haven't moved much this week, but there's no guarantee they'll be available in the new year, so locking in a high CD rate now may be smart if rates decline in 2024.

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

For the past several months, we've counted the number of CDs paying at least 5.75% APY. On Nov. 3, the number surged to a historic peak of 18. Now, as we close out 2023, we're left with just two CD offers with rates that high. There are another nine CDs that offer at least 5.65%.

The most attractive rates continue to be available in terms of three to 18 months, but there are still high rates offered on longer-term CDs. The top-paying 澳洲幸运5官方开奖结果体彩网:2-year certificate offers 5.39% APY, while you can secure 5.23% for a 3-year term. And in the 4-year and 5-year terms, you can lock in a long-lasting rate as high as 5.00%▨ APY.

Though the yields on these longer certificates are lower than certificates with shorter terms, securing one of today's record rates for as long as possible could be a smart move, as the current expectation is that interest rates will be falling over the next few years.

For anyone with a jumbo-sized deposit, the leading jum🌠bo CD offer is 5.77% APY, available from for either a 6-month or 1-year term.

Where Are CD Rates Headed Next Year?

The Federal Reserve opted to 澳洲幸运5官方开奖结果体彩网:hold rates steady at a 22-year high earlier this month, 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 then more 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, including 澳洲幸运5官方开奖结果体彩网:a 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 Fed members have started to discuss lowering rates.

The Fed's dot plot shows that no members of the rate-setting committee predict another rate increase in 2024. Instead, the median expectation is 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.

As we always caution, trying to predict the Fed's future rate moves is an uncertain exercise. But for the time being, it seems CD rates are likely to continue pulling back from their recent peaks.

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 CD'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.