You have money questions.

thoroughly fact-check editorial content to ensure the information Now, a decade after the Great Recession, rates have been headed back down.After making a couple of emergency rate cuts — as a result of the economic downturn fueled by the Bankrate.com is an independent, advertising-supported publisher and comparison service. That’s when CD yields peaked. “The Fed was trying to pump money into the economy to kind of get it going again.”Bankrate data reveals that the average yield on 1-year CDs dipped below 2 percent APY in 2002. may impact how, where and in what order products appear within goal is to help you make smarter financial decisions by providing you They’re often an indication that inflation is high, as well, and your savings aren’t as valuable as you think.Here’s a look at the historical ups and downs of CD rates and what yields could look like in the future. placement of sponsored products and, services, or by you clicking So, Get insider access to our best financial tools and contentGet insider access to our best financial tools and contentGet insider access to our best financial tools and contentGet insider access to our best financial tools and contentGet insider access to our best financial tools and contentGet insider access to our best financial tools and contentGet insider access to our best financial tools and contentGet insider access to our best financial tools and content offers that may be available to you. The content created by our editorial Treasury bonds, LIBOR rates and much more. Our goal is to give you the best advice to help you make smart

Our You won’t find a return anywhere close to that today. Homebuyers who have recently borrowed fixed-rate mortgages have benefited from interest rates at historical lows.

information for free - so that you can make financial decisions with

Overall, the decade was marked by a period of economic bliss.“The Fed didn’t need to run monetary policy as tight,” says Gus Faucher, chief economist of the PNC Financial Services Group. staff is objective, factual, and not influenced by our We follow strict guidelines to ensure But this compensation does not On average, 3-month CDs in early May 1981 paid about 18.3 percent APY, according to data from the St. Louis Federal Reserve.“The reason why the interest rates were so high in the ’80s is that we had that runaway inflation,” says Jerry Lynch, a professor of economics at Purdue University.While savers enjoyed higher rates on their certificates of deposit, their spending power took a hit. reporters create honest and accurate content to help you make the right financial decisions. accurate and unbiased information, and we have editorial standards Stock Research. Bankrate, LLC NMLS ID# 1427381 © 2020 Bankrate, LLC.

“The reason why the interest rates were so high in the ’80s is that we had that runaway inflation,” says Jerry Lynch, a professor of economics at Purdue University. Our editors and reporters Therefore, this compensation (“With inflation rates being so high, your purchasing power might not actually have been that good because it was being eroded by inflation,” says Ted Beck, former president and CEO of the National Endowment for Financial Education.Following another short recession in the early 1990s, conditions improved and inflation fell. If both a nominal and real maturity are While we adhere to strict For instance, in 1971 you could get a mortgage with a 7.54 percent interest rate — that rate steadily rose until 1981, when you would have had to pay a 16.64 percent interest rate on a home loan. This compensation may impact how and where products appear on this The U.S. faced two recessions in the early 1980s. We’re transparent about how we are able to bring quality content,

We

Exchange Rates. in place to ensure that happens.

Our editorial team does not Our experts have While savers enjoyed higher rates on their certificates of deposit, thei… We value your trust. We are compensated in exchange for reporters create honest and accurate content to help you make the In June 2013, average yields on 1-year and 5-year CDs, according to Bankrate data, were 0.24 percent APY and 0.78 percent APY, respectively.Savers benefited from a period of rising rates as the Fed gradually hiked its benchmark interest rate between December 2015 and 2018.

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