Jumbo CD Investments - CD Rates Blog

EmigrantDirect Savings Rate - Updated Aug 2008

Updated: 8/28/08. EmigrantDirect’s saving rates is moving up the scale finally. Althought it isn’t the top rate I’ve had an account with them for a couple of years now and I love it. Currently it is at 3.00% APY.

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.

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

Here is their website, EmigrantDirect

cd :O)

Updated Historical CD Rates

I have updated our Historical CD Rates.

The data is now through 7/31/08. As everyone knows, rates tumbled starting in December 2007. With the continued weaknesses in banks and continuing mortgage problems, it is unlikely the Fed will be changing rates soon.

Naturally, since 2008 rates are lower, the average rates came down a bit as well, but not that much. Our rate information goes back to 1993.

One thing to note is our rate information is based on CDs that were actually invested into.

Have We Hit Bottom

Many commentators are saying we’ve hit bottom. I’m not so sure. Anyway, here are some links to articles out there.

First, from CNN, an article about the dreaded Stagflation or maybe just stagnation. http://money.cnn.com/2008/08/19/markets/thebuzz/index.htm?postversion=2008081911

It appears that our economic gloom is finding its way around the world. Although, it will probably help keep inflation in check, it also means a global downturn.

Second, another blog gives some statistics as to how much further housing needs to fall. www.oftwominds.com/blogjuly08/70K-median7-08.html

Next, a fellow blogger is going out on his own. Give him some encouragement and bookmark him. He’ll soon be writing a whole lot more. Stop Worrying About Your Finances

Finally, I don’t know how many of you are Big Foot fans, but I enjoy the mystery and thought of undiscovered creatures such as him and Nessie. On Friday, there was a lot of hoopla about the discovery of a body. Sadly, it turned out to be a hoax, or did it. Maybe the reported den of them is much more intelligent than believed, and they took their buddy back. :O) www.foxnews.com/story/0,2933,406101,00.html

I hope you enjoy. We’re working a new blog design. Our newsletter subscribers will get the first preview.

Have a great day.
cd :O)

Calculating FDIC Insurance

Another Bank, First Priority Bank, FL (FDIC# 57523) was taken over by the FDIC on Friday, August 1, 2008. The insured deposits have been transferred over to SunTrust Bank, Georgia (FDIC# 867).

This follows another takeover a couple of weeks ago of First National Bank of Nevada and First Heritiage Bank. The insured deposits were transferred to Omaha National Bank.

This brings me to my latest article. I actually published it on Google’s new service, Knol. Here it is, Calculating FDIC and NCUA Insurance.

Let me?know what you think.

cd :O)

Washington Mutual (WaMu) Savings Account Rate

Updated 9/24/08. Washington Mutual or WaMu as they are called, has a nice Savings Account Rate. I’m not a fan of the higher yield savings rates because they tend to bring in the funds and then lower the rate. However, most of them allow for electronic transfers, so if the rate does go down it is pretty easy to move it. The rate is 4.00% APY.

Washington Mutual


WaMu is federally insured by the FDIC. The FDIC# is 32633. They are over $300 Billion in assets. They are having some trouble so make sure you stay under the FDIC $100,000 insurance guidelines.

Also Visit our Certificates of Deposits Rates page

cd :O)