Jumbo CD Investments - CD Rates Blog

Finally, They See the Light

Bernanke finally admitted the credit and housing market problems have spread and will problem spread further into the general market.  Really?!?

And on a good note I believe, he indicated investors shouldn’t be looking for a bailout.  After all, you need to be responsible for the risks you take.

They will be looking at data carefully to determine what course of action will be best.  Many still believe a rate cute is in the near future.  Next meeting is September 18.

Our President has also promised some aide for the ailing homeowners.  This needs to be done cautiously.  Just as investors shouldn’t be bailed out, people knowingly taking advantage of bad loan programs shouldn’t be either.

The next year should be quite interesting.  Keep looking up…

cd :O) 

10-Year CD Rate–5.85% APY

We have a 10-year CD where the bank is paying our fee.

Rate is 5.69% APR / 5.85% APY.

View our process and contact us for details.

CD Interest Rate Run Down

Despite the higher rates that some of the bigger banks are offering (IndyMac, Countrywide, WaMu, etc.), most CD interest rates have retreated a bit.

Average short-term rates fell, 3 - 5 Basis Points (0.03% - 0.05%), but longer-term actually came up 5 - 10 BPs.  However, what do average rates really matter?  The highest rates we are seeing have fallen overall, across all terms.

As the credit crisis continues, banks smell blood in the water (some of it their own), and as they hope (push, prod) for a Fed rate cut in Septemember, they have begun to lower their rates.  A few weeks ago we saw longer-term rates reach towards the 5.60 - 5.65% range.  Today they are back in the 5.30 - 5.40% range.

I will be updating our CD interest rates later.

Keep looking up…

cd :O)

ING Direct Savings Rate

ING Direct is offering a decent Savings Rate at 3.40% APY.  It is called the Orange Savings Account.  Click here for details.

They also have an Electric Orange Checking account that pays 3.93% APY if you maintain $100,000.  The rate isn’t bad for $50,000 - $100,000, either.  Click here for details.

ING Direct’s FDIC# is 35489.  They are about $68 Billion in assets.

Updated 2/01/08

What Color Crayon Are You?

Here is some relief form the burdens of the up and down economy. 

You Are a Yellow Crayon

Your world is colored with happy, warm, fun colors.   You have a thoughtful and wise way about you. Some people might even consider you a genius. Charming and eloquent, you are able to get people to do things your way. While you seem spontaneous and free wheeling, you are calculating to the extreme. Your color wheel opposite is purple. You both are charismatic leaders, but purple people act like you have no depth.

I was hoping for Orange as that is my favorite color