WAUKESHA - The time to buy a certificate of
deposit from a local bank is likely now.
With the Federal Reserve’s decision to cut the interest rate at which
banks charge one another for overnight loans by three-fourths of a point,
CD rates are likely to decline in the coming weeks.
On Thursday in fact, Web site www.bankaholic.com’s
list of the top 50 CD rates in the country was down for maintenance
"because of the drastic cuts in federal reserve rates."
But there is an upside to those seeking security from the recent
volatility of stock markets worldwide: Several banks are still offering CD
rates well above the federal funds rate, even before the Fed’s cut this
week.
