Does a CD account interest rate lock make sense after this week's Fed meeting?

We may receive commissions from some links to products on this page.

Promotions are subject to availability and retailer terms.

Updated on: April 27, 2026 / 3:30 PM EDT / CBS News
Borrowers hoping for some rate relief when the Federal Reserve meets this week will have to wait a bit longer.

With the likelihood of a rate cut at the conclusion of the central bank's April meeting near zero, according to the CME Group's FedWatch tool, elevated interest rates are unlikely to go anywhere anytime soon.

See how much interest you could be earning with a CD account here .

Locking in one of today's competitive CD interest rates following the conclusion of this week's Fed meeting could make sense.

Here's why:
A pause could lead to higher rates
Learn more about your current CD account options now .

There won't be another Fed meeting for months
At the same time, waiting too long should be avoided, as any number of factors besides the Fed can impact savings rates, especially with CDs.

Shop diligently online for those accounts with the best rates and terms, but act promptly to lock one in when ultimately found.

Interest rates on traditional savings accounts are declining
While there are still multiple CD account options available at over 4% now, rates on other account types are actually declining.

Case in point: Interest rates on traditional savings accounts , already minimal at just 0.39% on average, declined again last week to just 0.38%.