The FOMC dropped rates 50 Basis Points or 0.50%.? The rate went from 5.25% to 4.75%. Short-term CDs will probably drop 20 Basis Points over the next few days.? Whether or not they drop further, depends on the outlook as we had to the next meeting.? Longer-term CDs probably won’t drop as much and we [Read More…]

Almost everyone expects the Fed to Lower rates. Most of the debate is how far. A 50 Basis Point Cut or 0.5% seems that it may give the economy the boost it needs. MoneyCafe has a nice historical graph on the Fed Funds Rate.

Countrywide Bank is offering high rates on their savings accounts, money markets and CDs. [Side Note: Today (1/11/08) Bank of America annoucned they were buying Countrywide Financial Corp. Although I don’t believe this necessitates a merger of the banks, that will most likely happen.] For $50,000 and above, the savings rate is 5.25% APY. Updated [Read More…]

A day we should all remember. Blood of Heroes?

That remains the big question.? Various short-term funding mechanisms such as rates tied to Libor have gotten as high as 6.00% as banks and Wall St are struggling to find and make loans. The Fed and Europe’s counterpart continue to pump liquidity into the system.? It still seems more likely than not that the Fed [Read More…]

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 [Read More…]

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 [Read More…]

Updated 4/16/19 On November 1, 2011 ING Direct Bank merged into and is now subsequently operated as part of Capital One, National Association (4297) in MCLEAN, VA. Capital One currently is offering a Money Market account @ 2.0% APY, minimum deposit of $10,000.00. They have an A+ Health rating from depositaccounts.com. Click here for details. [Read More…]

Here is some relief form the burdens of the up and down economy. What Color Crayon Are You? 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 [Read More…]

I’ve read quite a bit of misinformation on the internet about FDIC insurance.? Given the headlines on Countrywide, people are concerned. If your bank is FDIC insured (Countrywide is), your funds are insured up to $100,000. If you have a joint account with your spouse (or anyone else for that matter), the funds are insured [Read More…]