3 savings moves to make post-Fed rate hike
The Federal Reserve raised interest rates this week. Here are three savvy moves savers should make in response.
Watch CBS News
Matt Richardson is the senior managing editor for the Managing Your Money section for CBSNews.com. He writes and edits content about personal finance ranging from savings to investing to insurance. Previously, he worked as a senior editor for FoxNews.com and FoxBusiness.com. A former sports reporter, Matt covered professional boxing in New York City for 18 years. He is the former Vice President and Secretary for the Boxing Writers Association of America (BWAA) and is an elector for the International Boxing Hall of Fame. He has a master's degree in journalism from Columbia University.
The Federal Reserve raised interest rates this week. Here are three savvy moves savers should make in response.
A CD will require losing access to your money for a period. But the return on a $50,000 5-year CD could be worth it.
The Fed just raised interest rates for the first time since 2023. Here's how mortgage interest rates responded.
Moving $50,000 into a 3-year CD account could be a lucrative move for savers who get started this September.
Borrowing $90,000 worth of home equity could make sense now. Here's what your monthly payments will look like.
After a new Fed rate hike, will a CD or a high-yield savings account be better for savers? Here's what to consider.
There are multiple timely reasons supporting the opening of a high-yield savings account that savers should know.
Interest earnings on a $100,000 5-year CD will be significant, but they won't necessarily be easy to secure.
A high-yield savings account could be a lucrative home for your money over the next six months. Here's what to know.
Home equity borrowing is on the rise again. Here's why it merits serious consideration for homeowners right now.
A 2-year CD account of this size could provide ample financial protection and a big return when it matures in 2028.
Need to borrow $250,000 from your home equity? Here's how much a loan can cost if taken out in today's rate climate.
The Fed could issue its first interest rate hike since 2023 this week. Here's where to move your money if that occurs.
A home equity loan is now one of your cheaper borrowing options. Here's how much a $60,000 loan can cost monthly.
Moving $15,000 into a 6-month CD could prove to be a lucrative move for savers who lock in a high CD rate now.