Where to find today's rate changes

Interest rates move every business day, but not all rates move at the same time or by the same amount. The Federal Reserve's benchmark rate (the federal funds rate) changes only when the Fed's policy committee meets, which happens roughly every six weeks. Most other rates — savings accounts, CDs, money market accounts, mortgages — move based on market conditions and individual bank decisions, so they can shift daily without any Fed announcement.

To see whether rates changed today, check the source that tracks the specific rate you care about. The Federal Reserve publishes its own rate on its website (federalreserve.gov) immediately after each policy decision. For savings and CD rates, visit the websites of banks and credit unions you use or are considering — each institution sets its own rates and updates them independently. Financial data sites like Bankrate, DepositAccounts, and NerdWallet track historical rate changes across many banks and update multiple times per day.

If you hold an account at a specific bank, log into your online banking portal to see your current rate. Banks are required to disclose rate changes in writing, usually by email or through your account dashboard, though the timing varies — some notify you before the change takes effect, others after.

Key Takeaways

  • The Federal Reserve's benchmark rate changes only when the Fed meets (roughly every six weeks), but bank rates for savings accounts and CDs can move any business day.
  • Each bank sets its own rates independently, so the same account type may have different rates at different institutions.
  • Check your bank's website or log into your account to see your current rate; third-party sites like Bankrate and DepositAccounts track changes across multiple banks.
  • Banks must notify you of rate changes, but timing varies — read emails and account statements to catch when your rate moves.

Why rates move on different schedules

The Federal Reserve sets a target range for the federal funds rate, which is the rate banks charge each other for overnight loans. When the Fed raises or lowers this rate, it sends a signal to the broader market, but it does not directly control every other interest rate. Banks and credit unions decide how much of a Fed rate change to pass along to their customers, and they do this at different speeds.

A bank might raise its CD rates within hours of a Fed increase, but hold its savings account rates steady for weeks. Another bank might do the opposite. This happens because banks balance customer deposits against their own costs and competition — they raise rates when they need more deposits, and hold them steady when they have enough money on hand. Market rates (like those on Treasury bonds) also influence bank decisions, and those move independently of Fed announcements.

Savings account rates tend to move faster than CD rates when the Fed raises rates, because banks compete aggressively for new deposits in a rising-rate environment. CD rates, which lock in for a fixed term, move more slowly because banks are less urgent about attracting long-term money.

How to track rate changes over time

If you want to see whether your bank's rates are trending up or down, keep a simple record. Write down the rate you see today, note the date, and check again in a week or two. Most banks show the current rate on their product pages without requiring you to log in, so you can check without opening an account.

Third-party tracking sites maintain historical data on rate changes. DepositAccounts and Bankrate both show rate trends for major banks and allow you to filter by account type, term length, and location. These sites update rates multiple times per day, so you can see the direction rates are moving across the industry, not just at one bank.

If you are considering moving money to a higher-rate account, compare rates across at least three banks before deciding. A 0.25% difference on a $10,000 CD might seem small, but it adds up over the term. Use a rate comparison tool to see which banks are offering the highest rates for the term and account type you want.

What happens to your rate if you already have an account

If you hold a savings account, money market account, or other variable-rate product, your rate can change at any time after the bank notifies you. Banks are required to give you notice before the change takes effect, though the notice period varies by state and by account type — it can be as short as a few days or as long as 30 days. Read your account agreement to see what notice period applies to you.

Rates on CDs and other fixed-term products do not change during the term. If you locked in a 4.5% rate on a one-year CD, you keep that rate for the full year, even if market rates fall to 3% or rise to 5%. This is the trade-off of a CD: you give up the ability to benefit from rising rates in exchange for knowing exactly what you will earn.

If your bank lowers your savings rate and you want a higher rate, you can move your money to another bank. There is no penalty for closing a savings account (unlike a CD, which may charge a penalty if you withdraw early). Many people move their money when rates drop, so banks know they have to stay competitive or lose deposits.

Understanding Fed rate decisions and their timing

The Federal Reserve's policy committee meets eight times per year on a set schedule. The dates are published years in advance on the Federal Reserve's website. At each meeting, the committee votes on whether to raise, lower, or hold the federal funds rate. The decision is announced at 2 p.m. Eastern time on the day of the vote, followed by a written statement explaining the reasoning.

If you want to know whether the Fed changed rates today, check the Federal Reserve's website (federalreserve.gov) or search for "Federal Reserve rate decision" plus today's date. News outlets also cover Fed decisions immediately, so a quick search will tell you whether a decision happened and what it was.

Bank rates do not move automatically when the Fed acts. It can take days or weeks for a bank to adjust its rates after a Fed decision. Some banks move quickly to stay competitive; others wait to see how the market settles. If you are shopping for a high-rate account, check rates a few days after a Fed decision to see which banks have already moved.

Rate changes and your savings strategy

If you are saving for a goal that is months or years away, rate changes matter less than you might think. A 0.5% difference on a $5,000 savings account balance over one year is $25 — real money, but not life-changing. What matters more is that you are saving consistently and keeping your money in an account that pays more than 0.01%.

If you are deciding between a savings account and a CD, the current rate environment matters more. When rates are falling, locking in a CD rate protects you from lower rates later. When rates are rising, a savings account lets you benefit from increases without waiting for a CD to mature. Check the current rate trend (up or down) before deciding which account type makes sense for your timeline.

For very large balances or long time horizons, rate shopping is worth the effort. Moving $100,000 from a 4.0% account to a 4.5% account earns you an extra $500 per year. If you are saving for retirement or a down payment years away, that difference compounds.

Frequently Asked Questions

Did the Federal Reserve change rates today?

The Fed only meets roughly every six weeks, so most days there is no Fed decision. Check the Federal Reserve's website or search "Federal Reserve meeting schedule" to see whether today is a meeting day. If it is not a scheduled meeting day, the Fed did not change rates today.

Why did my bank's rate go down if the Federal Reserve just raised rates?

Banks do not have to pass along Fed rate increases to savers. A bank might raise rates on CDs to attract new deposits while holding savings rates steady because it already has enough deposits. Alternatively, a bank might lower rates on one product while raising them on another. Check your account agreement or call the bank to understand why your specific rate moved.

How often do bank rates change?

Bank rates can change any business day, but most banks change rates only a few times per month or per quarter. Savings account rates tend to move more often than CD rates. Check your bank's website weekly if you are monitoring rates closely, or set up rate alerts on comparison sites like Bankrate.

If I lock in a CD rate today, will it go up if rates rise tomorrow?

No. A CD rate is fixed for the entire term. If you buy a one-year CD at 4.5% today and rates rise to 5% tomorrow, you keep earning 4.5% for the full year. This is why timing matters with CDs — if you expect rates to rise, you might wait before locking in a CD, or choose a shorter term so you can reinvest sooner.

Where is the best place to see historical interest rate data?

DepositAccounts and Bankrate both maintain historical rate data for savings accounts, CDs, and money market accounts at major banks. The Federal Reserve publishes historical data on the federal funds rate and Treasury yields on its website. These sources let you see whether rates are trending up or down over weeks and months.