Do you think interest rates will go up soon?

  1. veganbev profile image64
    veganbevposted 8 years ago

    Do you think interest rates will go up soon?

    A 5-year CD pays 2.5% APY.  Is it wise to sign up now, or wait a few months/years?

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  2. Springboard profile image82
    Springboardposted 8 years ago

    Right now I would not commit my money to a certificate of deposit for a period as long as 5 years. It's hard to say exactly where rates will go, but I can say this...

    I think in 5 years time the economy and the markets will be improved. You're best place to put your money today is in the stock market, hands down. It was the best place to put your money following the worst of the Great Depression, and history will follow suit here as well.

    If you MUST put your money into a CD right now, I'd not go longer than 12-18 months.

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