New Long Term Commentary From WesCorp

WesCorp has posted a new long term commentary.? It basically gives four potential scenarios.? The most likely scenario in their mind is the Fed easing rates in Sep or Oct with potentially a second at the end of the year.? They believe the Fed Funds rate will be at 4.50% or 4.75%.? It is currently at 5.25%.? Read it and come back and leave some comments.? Long Term Commentary

cd :O)

Oregon Credit Union – OnPoint Community Credit Union – 5.25% Certificate of Deposit

Updated 11/28/07.? OnPoint Community Credit Union has a 5.25% APY, 11-month Certificate of Deposit.? Minimum deposit is $5,000.00.? No maximum.? CD is federally insured up to $100,000.00

OnPoint’s membership is?limited to?those who live or work in Benton, Clackamas, Columbia, Lane, Linn, Marion, Multnomah, Polk, Washington, and Yamhill counties. Membership is also open to family members of current OnPoint Community Credit Union members.? Here is the link

NCUA Charter# is 62745. Assets are about $2.3BB
cd :O)

What a Difference a Day Makes

Yesterday, the talking heads of the stock markets wanted us to believe the credit markets were fine.??And the Fed only gave passing notice to the trouble that has been brewing.

Today, the Bank of England made an loan of about $130BB to insure the orderly conduct of the money markets.? The last time they made such a loan was the day after the 9/11 attacks.

Stocks have opened 200 points lower amid the fear that once again the credit problems will spread.

Here is a link to the full commentary.? If you are reading this after August, 9,2007 you will need to go to the archive section at the bottom of WesCorp’s page.

cd :O)

California Credit Union Rate — Bay Federal

Bay Federal Credit Union has good CD Rates.?? The membership is limited to:
“Anyone who lives, works, volunteers, worships or attends school in Santa Cruz, San Benito, and Monterey Counties is eligible to join Bay Federal Credit Union. ”

The 5-year rate is 5.76% APY and the 1-year is 5.50% APY.? Good rates on the inbetween terms as well.

Your funds are federally insured by the NCUA.? Their charter# is 12067.? They are a little over $556MM in size.

Here is the link to their rates page.

Fed Leaves rates at 5.25%

The FOMC left rates holding at 5.25%.? This is the longest pause in 9-years.? They indicated they are still more worried about inflation than the slowing economy.? Furthermore, they are still holding to the belief that the problems in the housing will not spill over into the general ecnomony.? That is not my feeling.?

And They Come Tumbling Down…

Two big stories from Bloomberg.? The first is about shares dropping on Countrywide and IndyMac.? Investor demand is drying up as the sub-prime woes spread to the Alt-A market.? Here is the link.

The second is about Wells Fargo and others not making loans to even those with good credit or those who don’t document their income.? Here is that link.

Neither bodes well for housing.? I’ve been saying for quite some time, that housing was going to be a bigger problem then Wall Street was letting on, and it is coming to fruition.

This has been sending stock prices down and?bond prices up (yields down).? People are once again pricing in a potential rate cut.? Don’t we all wish we had a crystal ball.? But we don’t.

My advice (this isn’t real advice, as I am not a Financial Advisor, just my two-cents worth type advice)? is don’t put all of your eggs in one basket and for your term type investments, ladder them.

cd :O)

Golden One Credit Union — 5-year CD Rate – 6.00% APY

Golden 1 Credit Union Has a great 5-Year CD rate of 6.00% APY and the 1Y is 5.80%.? The funds are federally insured up to $100,000 by the NCUA.

The membership is limited, but open to most of Northern and Central California.? Check if you qualify here.

They have about $6.3BB and their NCUA Charter # is?61650