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interest rates have gone up on almost every Financial product throughout 2022. for mortgages and Loans to checking accounts and savings accounts however theres a product that you might be overlooking and thats certificates of deposit these accounts have seen tremendous growth throughout 2022 and theres a good chance that interest rates will continue to rise on CDs throughout 2023 as well today we have Spencer Tierney the CD expert on the banking team at NerdWallet joining us to talk about what CDs are and why they might be a good option for you so Spencer what are some of the main benefits of opening a certificate of deposit especially right now yeah I mean so the biggest thing is the rate and were seeing rate increases that are honestly very historical we havent seen these kind of increases in at least a few years if not a decade or so and so the best CD rates are around like maybe three to four percent right now compared to one percent in the beginning of the year and this is ma