The top annual percentage yield (APY) offered on a certificate of deposit (CD) of any term is still 5.50% today, but you'll only be able to access that rate for a maximum of 15 months now. Yesterday, three financial institutions offered 5.50% on CDs with terms of 9, 15, and 17 months. Today, that top rate is no longer available on the 17-month CD from INOVA Federal Credit Union, so the longest you can earn 5.50% is 15 months.

There are 11 more CDs on our lists of the best nationwide CDs offering rates of at least 5.25% APY on a variety of terms ranging from 6𝔍 mon🎶ths to 2 years.

Where Are CD Rates Headed This Year?

CD rates are at their highest levels since at least 2007, the last time we saw the federal funds rate this high, but a plateau—or drop—may be coming sooner than we thought.

Rates on CDs generally mirror the trend of the 澳洲幸运5官方开奖结果体彩网:federal funds rate, and the quarter-point increase in the fed funds rate by the 澳洲幸运5官方开奖结果体彩网:Federal Reserve on May 3 nudged CD rates slightly higher.

But now, 澳洲幸运5官方开奖结果体彩网:Fed officials are divided on whether an 11th rate 🦹hike in June is necessary to tame inflation. Federal Reserve chair Jerome Powell said at a research conference Friday that recent bank failures and tighter credit conditions may have a greater impact on the economy, including hiring and inflation.

“So as a result, our policy rate may not need to rise as much as it would have otherwise to achieve our goals," Powell said. "Of course, the extent of that is highly uncertain."

Earlier this week, Atlanta Fed president Raphael Bostic said that watching and waiting was the best course of action and he 澳洲幸运5官方开奖结果体彩网:doesn't see꧂ rates declininꦫg this year. But on Thursday, Lorie Logan, the head of the Dallas Fed, said that current data doesn't justify pausing rate hikes just yet.

Fed watchers are betting that the "pause" idea will prevail. An overwhelming majority of futures traders predict there will be a pause on rate changes in June.

If there is no change to the fed funds rate next month, we could see CD rates stabilize where they are until the September Fed meeting. About a third of Fed watchers currently predict rates could fall at that time, though a majority predict a decrease will come in November or later.

With rate decreases potentially on the near horizon, it's a smart time to lock in one of the nation-leading rates in our CD rankings, guaranteeing you an excellent rate even after the Fed ultimately hits reverse.

Rate Collection Methodology Disclosure

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 minimu෴m 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.