bank rates

Same Old Story: CD Rates Fall In May

It just kills me to have to write another post like this, but CD rates declined for the 19th straight month in May.

CD rates declined for the 19th straight month in May, with all five of the terms we track finished the month lower than they were in April.The average return on all five certificates of deposit we track finished the month lower than they were at the end of April.

Oh, and four of those five average CD rates will enter June at record lows.

I’d hoped the long decline in earnings power that began with the financial crisis in late 2008 and continued through the recession of 2009 might be slowing last month.

Unfortunately, the new data provide no indication that savings rates are finally bottoming out.

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  1. Tom said:
    on June 9th at 10:18 am

    Meanwhile banks charge up to 25% on credit cards with money they pay you 0.5% for… IT SUCKS!!!!!!!!!!!!!!!!!