Shopping for the best CD rates? I can help.

Image courtesy of BankRate.Com, annotations by Mish.

There are a couple of great places to shop for deals. BankRate is one of the places.

As of April 7, Bankrate shows 10 offers of 5.00 percent or higher the highest is CFG Community Bank at 5.20 percent. 

The message from Chase, Bank of America, and Wells Fargo is they either do not want your money or they are playing people for suckers for keeping it there.

Best 5-Year Rates

A search for "Best 5-Year CD Rates" brought me to Investopedia.

These rates can change everyday. And there is increasing competition now, so shop around. 

Treasury Bill and Note Rates

Via TreasuryDirect you can buy bills, bonds, and notes directly. 

I linked to the Treasury Notes page where offers are for 2, 3, 5, 7, or 10 years. Treasury Bonds (not the same as savings bonds) are available for 20 or 30 years. Bill are 1 year or shorter. 

Money Market Rates

BankRate has a list of the Best Money Market Rates. The following to Tweets describes an exodus from banks to money markets.

In Search of Yield

Money Flooding Out of Banks 

Implied CD Risk 

Let's return to CDs for a discussion of risk. 

The 5-year treasury note currently yields 3.393 percent. However, there are at least 14 banks in the offering 4.35 to 4.68 percent for five years.

Those banks, for whatever reason, are relatively desperate for money. 

One can surmise many reasons why that might be so.

One possible reason is fearing capital flight or losses from commercial real estate.

For discussion, please see The Next Bank Crisis Is Coming Right Up, Commercial Real Estate Implosion

But as long as you are at or below the FDIC limit, there is no risk to you. 

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