Yields on CDs at highest since '01

The Boston Globe reports:

With CDs paying the highest returns since 2001, now may be the time to buy.

In Boston, the average one-year certificate of deposit currently yields 3.07 percent in interest, up from 2.02 percent a year ago, according to data from Bankrate.com.

Countrywide Bank, which has six offices in Massachusetts, offers 4.75 percent.

''Now is a good time to buy shorter maturities -- three-month, six-month, and one-year CDs," said Greg McBride, senior financial analyst at Bankrate.com.

Even higher mortgage rates are coming also.