September 2, 2026
One thing I have noticed lately is that more people are shopping rates again.
They are not only asking, “Who has the highest CD rate?” The question I hear more often is, “Should I lock in now, and if I do, how long should I go?”
That is a harder question than it sounds. A six-month certificate gives you flexibility, but it also puts the decision back in front of you fairly soon. A two- or three-year certificate gives you certainty, but nobody likes the thought of locking up money and then watching rates move higher.
I understand the concern. From what I am seeing, savers are paying closer attention and are much more willing to move money for a better return than they were a few years ago. A difference of half a percentage point feels real when someone has accumulated a meaningful balance.
I am not going to pretend I can predict the next move
I do not think it helps anyone for me to make a bold call about whether rates will be higher or lower by Christmas. There are too many moving pieces, and even professional forecasts change when new information arrives.
What I can do is explain what I am watching.
Inflation is still one of the biggest factors. The latest Consumer Price Index report showed prices up 3.4% over the prior year through July. If inflation remains stubborn, the Federal Reserve has less room to push rates down quickly.
Economic growth matters too. The latest government estimate put second-quarter economic growth at a 1.5% annual rate, slower than the first quarter. A softer economy can eventually pull rates lower, but inflation can point in the other direction at the same time.
Then there are the things that do not fit neatly into a spreadsheet: war, energy prices, trade policy and supply disruptions. The Federal Reserve’s July monetary policy report specifically discussed elevated uncertainty and inflation pressure connected with energy and the conflict in the Middle East. Those events can affect prices, market expectations and, eventually, the rates banks are willing to pay.
That mix is why I would rather talk about choices than predictions.
Short term or long term?
For someone who may need the money, a shorter term can be worth more than a slightly higher APY. Access and flexibility have value.
For someone who knows the money can sit, a longer term can remove the risk of having to reinvest at a lower rate six or twelve months from now. This week, a few institutions made that longer-term decision more interesting.
Coastal Credit Union raised its 24-month certificate from 3.90% to 4.25% APY. Credit Union of Colorado also raised several two- and three-year rates. Its reviewed tiers now range from 3.05% to 3.20% APY. Those are not predictions about the market. They are signs that some institutions are willing to pay more for deposits that stay longer.
There were shorter-term moves as well. Florida Credit Union raised its standard 12-month CD from 3.00% to 3.41% APY. Addition Financial made smaller increases across several terms, and Philadelphia Federal Credit Union moved its nine-month certificate to 4.00% APY.
Bellco moved the other way, lowering its six-month traditional CD from 4.00% to 3.85% APY. That is a good example of why rate shopping has become an ongoing process. The best option last week may not be the best option this week.
How I would think about the decision
Start with when you may need the money. Then compare the actual dollars, not just the headline APY. Finally, check the early-withdrawal penalty, minimum deposit, membership requirements and what the certificate renews into at maturity.
If you are still uncomfortable choosing one term, a CD ladder can split the decision. Part of the money stays available sooner, while another part earns a locked rate for longer. It is not exciting, but in banking, a plan you can stick with is usually more useful than a perfect prediction.
This week’s verified changes are now reflected on The Rate Desk’s local pages. You can also use the CD calculator to see how much a rate difference is actually worth, or the CD maturity tracker to keep renewal dates from slipping by unnoticed.
Rates were checked against official institution websites on September 2, 2026. Rates and eligibility can change without notice. Confirm all terms directly with the institution before opening an account.