Update 8:45 PST.? Some comments from JumboRateNews, another publication we subscribe to, as to why this isn’t like the S&L crisis in the 80s: A spike in oil prices in 1979 pushed up inflation and coupled with interest rate deregulation to create a perfect storm of sorts in the 1980s. Short-term interest rates on deposit [Read More…]

I wish we had an Underdog, but I’m not sure we do.? Chicago Fed President Poole made the statement that only a “calamity” would warrant a rate cut.? How much more of one does he want? The 3-month T-Bill is down to 3.78%.? A few weeks ago it was above 5%.? The 2-year is down [Read More…]

Updated 3/26/2020 OnPoint Community Credit Union has a 12-month Certificate of Deposit @ 2.00%. The minimum deposit is $50K for this Bundle Rewards CD. It has been quite some time since we looked at their rates. We don’t expect the rates will return to 5.25% anytime soon. CD’s are federally insured up to $250,000.00. See [Read More…]

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 [Read More…]

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.?

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 [Read More…]

Update 3/26/2020: Golden One Credit Union’s 5-year CD rate is currently 2.00%. Visit our current CD Rate Page to see how this compares to other institutions. Update: 08/29/2018 — Golden One Credit Union’s 5-year CD rate is currently 1.74%. DepositAccounts.com gives them an “A” rating and provides current reviews. Update: 04/18/2012 — This rate from [Read More…]

The treasury market has seen a big drop in yields. The 10-year which affects mortgages and CDs more than anything else has dropped over 30 Basis Points, currently at 4.77%. Good for mortgages, not so good for CDs. The CD rates have come down, but thankfully only 10 – 15 Basis points. At this point [Read More…]

I’m the son of a rich African farmer. My father has been assassinated and I inherited $7MM. I need to move the money out of…We need someone we can trust. Can you help us… When I get these I just delete them. THEY ARE A SCAM and you will lose lots of money if you [Read More…]

Update 3/26/2020 EarthMover Credit Union review. They are NOT federally insured by the NCUA however, they carry private insurance through American Share Insurance. You can check the health of the credit union on the website. They have an “A” health rating from DepositAccounts.com Their website indicates membership is open to: If you live or work [Read More…]