It looks like we have seen the peak in CD rates – at least for the foreseeable future. The highest rates I saw on Fido or eTrade were in the 5.8% area soem number of weeks ago.
Fido is NOW showing rates of 5.35% for a 3 month CD, with lower rates further out – 4.85% for a 2 year ‘callable’ in June 2024. eTrade is showing slightly higher rates–up to 5.40% for a 1 year ‘callable’ in June, 2024.
Make no mistake that when it is advantageous for a bank to call an issue they will make the call – no goodwill will be shown–this is business. When will it be ‘advantageous’–I have no real idea, but maybe some readers with more experience in this matter will give us a helpful comment. It seems that it might be around 1/2%-1% lower on Fed Funds since there is a cost involved in the call.