High APY CDs available as savings rates decline in December 2024

As of December 6, 2024, some banks are offering high annual percentage yields (APY) on certificates of deposit (CDs), reaching up to 4.70%. This comes as savings rates decline due to the Federal Reserve's recent interest rate cuts. The Federal Reserve is expected to lower rates again in December, which could further decrease CD rates. Since the beginning of the year, rates have been falling after reaching record highs post-pandemic. Despite the potential for lower rates, some CDs have recently increased their rates. Consumers are encouraged to compare options to secure the best APY for their savings.