CD rate increases hit 160 in October, NerdWallet's count of 50 institutions shows

NerdWallet counted about 160 CD rate increases in October across the 50 institutions it tracks, up from about 100 in each of August and September. Top one-year CDs sit around 4.50%, while the national average is 1.76%.

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- June: about 35
- July: about 60
- August and September: about 100 each
- October: 160
- Top one-year CD: about 4.50%
- Top five-year CD: closer to 5.00%
- National average one-year CD: 1.76%
- National average five-year CD: 1.41%
- The Fed held its target range steady on Oct. 28 after raising rates in September. NerdWallet cites CME FedWatch projections suggesting one more hike is possible at the Dec. 8-9 meeting. Banks decide individually whether to follow Fed moves.

Read full analysis on nerdwallet.com

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