Fed Reaction: Fed Holds Steady, But Top CD Rates Are Already Climbing

New CD Valet data shows 92% of rate changes over the past week have been increases.

SEATTLE, Oct. 28, 2026 /PRNewswire/ -- The Federal Reserve held interest rates steady today despite elevated inflationary pressures, but the top of the CD market is already moving. Of the 41,000 CDs tracked on CD Valet, 1,044 rates increased this week while only 91 decreased. The CD Valet median rate rose to 3.30%, which had been previously stalled around the 3.25% level for months.

CD Valet data shows that there are currently more than 7,200 CD rates offering at least 4.00% APY, with a good handful still exceeding 5.00% APY.

Key findings (as of Oct. 26, 2026):

• Top rates are rising. The best 12- and 24-month CD rates (99th percentile) rose from 4.30% to 4.50% APY over the past 30 days.
• Banks are raising rates far more often than cutting them. Increases outnumbered decreases more than 11 to 1 this week: 1,044 up, 91 down.
• 4.00% APY is now common at the top. Over 7,200 CDs now pay 4.00% APY or more.

The gap matters more than the Fed

We continue to see strong opportunities for savers in the CD market. While the median 24-month CD on CD Valet pays 3.10% APY, the best 24-month CDs earn as high as 4.50% APY. On a $100,000 deposit, that difference is worth roughly $2,800 over two years.

This is an important reminder that CD yields don't move in lockstep with the Fed's decisions. And with a typical gap of 50 to 70 basis points between the top 25% of rates and the top 1% for each term, taking a minute to compare rates can make a real difference in how much savers can earn.

"Savers don't need to wait for the Fed," said Mary Grace Roske, Head of Communications for CD Valet. "And many of the best rates may not last. Nearly half of the CDs on CD Valet are promotional specials which can disappear or reprice quickly. Savers who wait for the Fed to act could miss out."

Is now a good time to lock in a CD?

For those who shop and compare rates and terms, yes. While the yield curve still remains relatively flat, there's a slight bump forming at the 12 to 22 month terms where the top 1% of rates are offering CDs earning up to 4.75% APY.

Overall, the flat yield curve continues to work in savers' favor. Because top rates are nearly the same across most terms, savers can pick the term that fits their timeline without giving up yield.

What savers should consider

• Shop past the median. The top 12-month rate (4.50% APY) beats the 12-month median by more than a full point. On a $25,000 deposit, that's about $288 more interest in one year.
• Choose the term by timeline, not by rate. With a flat curve, a top 6-month CD pays nearly as much as a top 24-month CD. Pick the term that matches when you'll need the money.
• Consider a ladder. If rates keep rising, splitting savings across staggered terms lets part of the balance reinvest at higher rates as each CD matures.
• Read the fine print on promotions. Check minimum deposits, balance caps, unusual terms and membership requirements before applying.
• Confirm coverage. Make sure deposits fall within FDIC (banks) or NCUA (credit unions) insurance limits.

CD Valet tracks around 40,000 publicly listed CD rates from nearly 5,000 banks and credit unions across the country. Visit https://www.cdvalet.com/insights/cd-rate-forecast/ for the full report on where CD rates are headed in 2026.

About CD Valet

CD Valet is a CD marketplace that features verified CD rates from federally insured banks and credit unions. With tens of thousands of CD offers tracked across the country, CD Valet gives savers a clear view of top rates and helps them explore high-yield CD options with reliable returns. For financial institutions looking to raise deposits and attract new customers, CD Valet is a reliable and cost-effective channel that helps boost the visibility of their brand and CD offerings to high-intent CD customers. Visit www.cdvalet.com for more information and check out CD Valet's Best CD Rates for today's highest offerings.

SOURCE CD Valet