Jumbo CD Investments - CD Rates Blog

Inflation Still Dogging Economy

From Wescorp: “Inflation Moderate, Housing starts up - CPI was slightly higher than expected at 0.2%. The report showed that energy prices fell, gas prices dropped, food prices rose, housing costs rose, apparel dropped and autos were unchanged. Core CPI (ex food & energy) was also 0.2% bringing the y-o-y reading to 2.2%. Builders unexpectedly started construction on more homes in June while their permits for future construction fell (1406K vs. 1501K prior reading).”

For the full commentary click here.

New National Banking Website

The OCC has created a new website with information on National banks.? It also gives you a mechanism to file a complaint.? Non-national banks, state chartered banks, savings & loans, etc. are not regulated by the OCC so it gives you some other agencies to contact if your bank falls into a different category.

Although the site is tailored to National banks, there is a lot of good general information.? I encourage you to take a look here.

CD Rate Update

CD Rates continue to hover in the 5.50 - 5.65% range across?all terms.

This is a bigger improvement on the longer-term CDs than the shorter, because prior to last month, the longer-term rates were in the 5.25 - 5.30% range and the short-term were around 5.35% - 5.45%.

The CPI comes out tomorrow.? This is the Fed’s preferred method to?gauge inflation.

So for now, rates should remain in these levels.? Keep coming back and checking for specials or news that will change rates one way or the other.

EmigrantDirect Savings Rate

EmigrantDirect has had their best savings rate for quite some time.? EmigrantDirect is a division of Emigrant Bank in New York.?This savings account works really well.? You link the account to another bank account, such as where you do your primary banking, and you can transfer funds between the two accounts on-line.

Like HSBC, their current yield is 5.05%.? Remember, this is not the simple rate.? Your actually earnings will depend on how long you leave the funds into the account and how often the bank compounds the interest.

The FDIC# for Emigrant Bank is 12054.? They are over $11.5 Billion in assets.

Here is their website, EmigrantDirect

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Michigan CD Rates — 6.00% APY

A federally insured NCUA?credit union in Michigan has a great CD Rate.? This is better than any other CD rates that we are seeing.? It is available to Michigan residents only.? Rate is 5.87% APR / 6.00% APY.? Interest pays monthly or compunds quarterly.

Minimum deposit is $50,000.00.? Special 9 Basis Point Fee.? Call Jumbo CD Investments for details at 800-234-4605.

Or visit Best CD Rates for more details about our company.

Updated 8/3/07.?