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Are CD interest rates taking a hit because of the economy?

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Answer:

A potential investor might be surprised to find that banks are offering higher CD interest rates in this currently troubled economy. With money issues on the rise, many potential investors are hesitant to ""lock away"" money for 2,5,or even 10 years. Because of this, financial institutions must compete for CD purchases, resulting in higher interest rates to attract new investors.

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Relevant answers:

How can you get CD interest rate?
You can get a CD interest rate by applying for one through one of several websites. You should investigate different rates before making a final decision.
How can you compare CD interest rates?
Contact your local banks to ask about CD interest rates. They should be able to give you an instant quote at what current interest rates are at. Make sure to check about details associated with the...
What is the significance of interest Rates for an economy?
the significance is that the government profit from specific interest rates in an economy
What is the significance of interest rate on an economy?
to make the economy more effective and efficient
How can you calculate your CD interest rate?
To calculate CD interest rate, all you have to do is to just multiply the principal amount you have invested in CD with interest rate. If u want to calculate for the monthly interest then divide the...