Why is bankrate reporting that the average one year CD is 3.67%?

Question

they have it going up .67% over the summer, yet all three banks that i do business with have remained the same and pay at most 3%

Answer 1

They lie ))))

Better open a high yield account in a bank in Eastern Europe. You will get a 12% APY with NO RISK. No B.S.

I have opened such a high yield account 5 years ago.

Good luck!

Answer 2

A lot of banks right now need capital so they have been running specials on CDs. For example, in my area there are banks offering 4%-4.40% for 6-7 month CDs.I am not sure about bankrate.com. But if I were you I would research some more. There are better rates out there. Just make sure the deposits are FDIC-insured since the financial industry has been going through some rough times.