I understand that CD ladders are a mechanism to take advantage of the various interest rates offered for different time periods. Given that, is there any point investing in longer and longer term CD's unless the APY is (at least slightly) higher each time?
Marcus (Goldman Sachs) offers the same return (1.0%) for the 4-year CD as it does for the 3-year, 2-year, and 1-year. Is this why shopping around is important for CD's? I see that another bank, ManhattanLife (never heard of it) is offering 2.60% for their 3-year term. I would have liked, purely for convenience, to hold all of my CDs at the same bank, but is being creative and using different banks a necessary part of a successful CD ladder?