What is the rate for certificates of deposit?

Question

Are they still hovering around 5%?

Answer 1

It really depends on how long you plan to leave the money in them. The longerthe term usually the better rates they offer you becauseit means they an use your money for longer-term projects. I've seen 5.5% and a little betterthan that. Nothing better than 6, though. And you have to think about whether you will be needing that money in a year's time or two years' time, etc.