Don't Let Summer's High Interest Rates Pass You By. Do This ASAP

Kelly is an editor for CNET Money covering banking. She has over 10 years of experience in personal finance and previously wrote for CBS MoneyWatch covering banking, investing, insurance and home equity products. She is passionate about arming consumers with the tools they need to take control of their financial lives. In her free time, she enjoys binging podcasts, scouring thrift stores for unique home décor and spoiling the heck out of her dogs.

Temperatures aren't the only thing that's elevated this summer. Savings rates are sizzling too. That's awesome news for anyone who wants to grow their money faster.

But, just like temps, annual percentage yields can't stay high forever. The Federal Reserve is likely to keep rates where they are at its July 29-30 meeting, but it could begin cutting ...