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CD Rates
93 days ago | Comment
We’re talking truly horrible rates such as 0.12% APY on a 6-month CD, or 0.22% APY for a 11 month CD. According to a report by UCLA group Anderson Forecast released last Tuesday, the US will continue to see low CD rates and high jobless rates as the economy recovers modestly in 2010. The report also states that even with GDP reflecting a current growth of 2.5 percent, it may be more realistic to expect it to settle down to a 1 percent growth by 2010 and come closer to 3 percent in 2011. The FDIC used to suck it up and honor all of the high yield CD rates issued by troubled banks as an annoying but necessary cost of maintaining consumer confidence in the banking system.
