Should you lock in a CD now or wait?

MoneyWatch: Managing Your Money Should you lock in a CD now or wait? We may receive commissions from some links to products on this page. Promotions are subject to availability and retailer terms. .chip { background-image: url('/fly/bundles/cbsnewscore/images/chip-bgd/chip-bgd-moneywatch.jpg'); } By Matt Richardson Matt Richardson Sr. Managing Editor, Managing Your Money Matt Richardson is the senior managing editor for the Managing Your Money section for CBSNews.com. He writes and edits content about personal finance ranging from savings to investing to insurance. Read Full Bio Matt Richardson April 9, 2026 / 1:33 PM EDT / CBS News Add CBS News on Google Locking a portion of your money into a high-rate CD account can make sense this April. John Piekos/Getty Images Your savings strategy should incorporate multiple elements, but perhaps the most important one comes down to timing. And while that's always critical to get right, it's particularly important when considering a certificate of deposit (CD) account. Unlike other account types, a CD that can't be maintained through the maturity date will come with a cost, namely an early withdrawal penalty that may be in the form of all of the interest earned on the account to that point. So you shouldn't rush to open one without first understanding your ability to maintain it.At the same time, today's unique economic climate may be the motivation you need to act promptly. With progress toward lowering inflation stalling, stock market returns volatile and geopolitical tensions and overseas conflicts pronounced, you may be looking for the best protection you can find for your money right now. In this climate, locking in one of today's still competitive CD rates can make sense. But is that really the right move to make now, or will you be better served by waiting? That's what we'll examine below.Start by seeing how much interest you could be earning with a CD account here.Should you lock in a CD now or wait?While each saver's...