Ally CDs and future rates (2024)

[Tiny]

Ally has a 12 month CD with a 5.25% rate

Fed didn't raise rates - and hints at possibly 3 rate drops in 2024.  

Does the possibility of future lower CD rates effect where you will be stashing your cash in the near future?   




I've got 10K for I-bonds in 2024 (this is part of a plan/goal and I-bonds still make sense... so... I will buy more since the "fixed rate" is pretty nice (and this bond(s) will be the ones I hold the longest/last ones I use 10 years from now.) 
I will have 7500 for my 2023 Roth Contribution (most likely made in January 2024 -  I was waiting to see if a Holiday bonus was in the works but it's not...) 

I can scrape together 10K for a 12 month CD...  I was going to allocate the scraped together 10K to my 4.25% mortgage... but I think doing a 12 month CD isn't that bad of an idea... I don't really need to put the 10K towards my mortgage.    (FWIW:  the mortgage will most likely be paid in full in between 18 and 36 months... no matter what I do...   I could pay it off today but it complicates my liquidity enough to make me not sleep well at night.) 

I'm probably sweating the "small stuff" here, by chasing "rates".    

[Rukh O'Rorke]

I am going to try to do ibonds in early 2024 again, will see what happens!

[Opti]

Dec 14, 2023 11:28:07 GMT -5 Rukh O'Rorke said:

I am going to try to do ibonds in early 2024 again, will see what happens!

I would like to try them myself.