Here's an interesting one. As a result of Chase Bank taking over First Republic Bank where I have one of my $100k CD's, I now have the option of withdrawing my money from this 4% CD without any penalties. It currently has 4 months until maturity.
I could easy take this money and open a 5.10%, 12 month CD at another local bank and make some easy money. Question is, what will rates be like in 4 months? I'm sort of betting on the Federal Reserve dropping rates in the coming months so it might make sense to move it now for this guaranteed 5.10% for 12 more months.
Any opinions or crystal balls out there?
I could easy take this money and open a 5.10%, 12 month CD at another local bank and make some easy money. Question is, what will rates be like in 4 months? I'm sort of betting on the Federal Reserve dropping rates in the coming months so it might make sense to move it now for this guaranteed 5.10% for 12 more months.
Any opinions or crystal balls out there?