CD Rate Trends November 2026: The Fed Held Steady But CD Rates Moved

The Fed held rates steady in late October, but the nation’s banks and credit unions didn’t. There has been a steady stream of CD rate hikes across banks and credit unions nationwide, both prior to and following the Federal Open Market Committee meeting. 

With strong CD yields available across the market, the bigger question for savers remains not where to find yield, but which maturity best balances today’s return against the opportunity to reinvest if rates move higher. 

Are CD Rates Going Up Right Now?

Yes. More changes to CD rates offered by financial institutions were increases than decreases, based on CD Valet data as of November 1, 2026. 

Approximately 94% of all existing rate changes were increases for the month. With just 6% percent of rate changes showing as decreases, CD rate increases outnumbered decreases by nearly 15 to 1. 

The ratio of rate increases had already begun moving higher in September, and the November 1 data show that momentum is continuing. Other measures also point to broader availability of higher CD rates. 

The number of rate offerings of at least 4.00% APY increased from 6,566 on October 13 to 7,673 on November 1. 

CD Valet was tracking 41,184 CDs as of November 1. The overall median rate remained at 3.30 percent. Median rates were 3.50 percent for 6-month CDs, 3.35 percent for 12-month CDs and 3.14 percent for 24-month CDs.

What Happens to CD Rates if the Fed Cuts Rates?

Higher Federal Reserve rates generally create upward pressure on newly offered CD APYs, with a lot of rate movement generally occurring immediately prior to and following a Federal Open Market Committee meeting. 

In late October, the Federal Open Market Committee maintained the federal funds target range of 3.75 percent to 4.00 percent. CD Valet data since that decision show the upward movement in CD rates continuing with slight acceleration. As of November 1, 94% of existing rate changes were increases, compared with 93% in the October 13 update. 

The broader move is also visible in higher yield offers. The number of CDs offering at least 4.00% APY rose from 6,566 on October 13 to 7,673 on November 1. Further, there are 75 CD rates now offering 5.00% or more. 

Savers now look ahead to the Fed’s next move on December 8-9, which will depend heavily on inflation, employment and economic growth. As of November 1, the CME Fed Watch Tool projects a 72% chance of a rate hike to the 4.00 percent to 4.25 percent range.

Inflation: Energy Sets The Pace

Inflation moved higher again in September, and the next inflation report is due on November 10. It will be the last inflation reading prior to the Fed’s December meeting. 

The Consumer Price Index increased 0.6 percent in September after rising 0.4 percent in August, according to the U.S. Bureau of Labor Statistics. Over the previous 12 months, headline inflation increased 3.7 percent, up from 3.4 percent in August. 

Energy continues to play a major role in the monthly increase. Gasoline prices rose 9.1 percent in September and is up 34.2 percent over the year. It accounts for more than half of the month’s increase. 

With Middle East tensions unresolved, energy continues to be the key factor in rising inflation. Housing is also a steady contributor, with rent and owner’s equivalent rent rising over the year 2.8 percent and 3.3 percent, respectively. price stability after raising rates in September.

Employment: Light Softening, But Stable

The most recent employment report was released on October 2, and it showed the job market stalling. The unemployment rate increased to 4.2 percent from 4.1 percent in August, showing weak hiring and wages rising more slowly than prices. 

The next jobs report will be released on Friday, November 6. While layoff news seems more frequent, the data is expected to show that more companies are not hiring versus a wave of firings. For the week ended October 24, the Labor Department reported 194,000 first-time claims (seasonally adjusted), down from a revised 195,000 the week.

Economic Growth: Still Expanding

On November 2, the Federal Reserve Bank of Atlanta’s GDPNow model estimated real GDP growth at a seasonally adjusted annual rate of 3.7 percent for the fourth quarter. 

The latest update suggests consumer spending remains a source of strength in the economy. Personal consumption appears firm, while inventory investment is contributing somewhat less to projected growth than previously estimated.

Bottom Line: CD Rates Could Rise Further

Persistent inflation, continued economic growth and only light softening in the labor market continue to support the possibility of higher interest rates. CD Valet data also show upward momentum in deposit pricing, with 94% of existing-rate changes moving higher as of November 1. 

For CD savers, that makes maturity an increasingly important part of choosing an investment. Locking in a rate can protect yield if rates eventually decline, but choosing a longer maturity also creates more risk of missing future increases. Because modest rate changes may produce relatively small differences in dollar returns, savers should weigh the available yield, the maturity date and when they will need access to their money.

Should You Lock in a CD Rate Now?

For many savers, yes. Today’s top CD rates are some of the best they’ve been in the last few years, and there’s little reason to wait. The best 12- and 24-month CDs on CD Valet pay around 4.50% APY, compared with a median of just 3.30%. With inflation at 3.7% in September, a top CD still beats rising prices by about 0.8 percentage points. An average CD doesn’t. Rates have also been rising even while the Fed held steady in October: top 12- and 24-month rates rose 0.20 percentage points in the past month. Waiting for the Fed may mean watching the best offers get away. Nearly half of the CDs on CD Valet’s site are promotional specials, which often don’t last long. 

Many savers are tempted to wait for the Fed’s possible rate hike on December 9, but the payoff from waiting may be smaller than it looks. A hike would likely be a quarter point, and much of it is already reflected in today’s rates. One sign: the best 12- and 24-month CDs already pay more than the best 6-month CDs, which suggests banks expect rates to stay higher for a while. Rates could also move the other way. Hiring has slowed sharply, with just 29,000 jobs added in September. If the job market weakens further (and quickly), the Fed could pause or even cut rates in 2027, and savers who locked in would come out ahead. 

CDs that promise to let you benefit from rising rates, like bump-up CDs, can be worth a look. Do the math first, though. Bump-up CDs usually start at a lower rate than the best fixed-rate CDs, and you typically get just one increase, which depends on your bank raising its own rates. A two-year bump-up CD starting at 4.00% APY would need to jump well above today’s top rates, and early in the term, just to match locking in 4.50% APY now. Bump-ups can make sense mainly when their starting rate is within about a quarter point of the best fixed rates. 

If you can’t decide, you don’t have to choose all or nothing. A CD ladder, with money split across terms such as 6, 12 and 24 months, locks in today’s strong rates on part of your savings and keeps the rest free to reinvest soon if rates keep climbing. Consider using the CD Yield Curve, or the yields on U.S. Treasuries, and available 6-, 12-, 24-, 36- and 60-month terms to research yields before selecting a maturity.

Which CD Terms Are Rising Fastest?

Rates across the broader CD market continue to move higher, with 94% of existing rate changes showing increases (as of November 1). At the top end of the market, the 12-month term rose the most over the past 30 days, increasing 17 basis points to 4.50%. 24-month CD APYs rose 14 basis points to 4.50%, while the 6-month term increased 9 basis points to 4.39%. 

Savers now look ahead to the Fed’s next move on December 8-9, which will depend heavily on inflation, employment and economic growth. As of November 1, the CME FedWatch Tool projects a 72% chance of a rate hike to the 4.00 percent to 4.25 percent range.

How CD Valet Tracks These Rates

Every CD rate listed on CD Valet is verified with publicly available data from federally insured banks and institutions. Rates are directly sourced and verified through a combination of daily manual reviews and structured data checks to ensure accuracy, availability and transparency.

CD Valet operates as a comprehensive CD marketplace, featuring over 40,000 rates from nearly 5,000 federally insured banks and credit unions. Rates are updated as often as daily, including after every FOMC meeting. Learn more about CD Valet’s data verification policy.

FAQs

Yes. CD rates are still moving higher in early November. For the week ended November 1, 94% of changes to tracked rates were increases, outpacing decreases by nearly 15 to 1. The latest data show upward continued momentum from November rather than leveling off. Savers can now look ahead to the Fed’s next move on December 8-9, which will depend heavily on inflation, employment and economic growth. As of November 1, the CME FedWatch Tool projects a 72% chance of a rate hike to the 4.00 percent to 4.25 percent range. For the full-year outlook and where rates are headed next, see the CD Rate Forecast for 2026.

Locking in a fixed-rate CD can protect today’s yield if rates decline, but current conditions leave room for rates to rise further. As of November 1, the CME FedWatch Tool projects a 72% chance of a rate hike to the 4.00 percent to 4.25 percent range. Maturity therefore matters: shorter terms allow earlier reinvestment, while longer terms preserve today’s yield. See our full lock-in guidance in the 2026 CD Rate Forecast.