CD Rates Decline, But High Returns Remain Available

CD rates have declined in 2023 but remain high compared to historical standards. The best short-term CDs offer rates around 4% to 4.5% APY, with the highest rate of 4.15% APY offered by LendingClub on its 8-month CD. Rates peaked in 2022 after the Fed hiked rates 11 times to combat inflation. The Fed has since cut rates, but CD rates remain competitive.