My American Express savings account rate dropped to .4% yesterday from .5%...it is difficult to imagine rates for savers improving in the near term.
Yikes! I wonder why brokered rates are going up whiles others are still getting whittled.
I periodically make a note of the highest rate (5yr CD) available for Brokerage CDs at Fido. I'm not ready to buy any CDs yet, but rates are on their way up.
mid-Jan = 0.55%
mid-Feb = 0.65%
mid-March = 0.90%
I've said it before. I'll keep my money under a mattress before I'll let someone have it that cheap. Call it cutting off my nose, etc. and I won't even argue. Just my thing, so YMMV.
Are you comparing apples to apples with the 5 yr rates?
Not sure what you are referring to. I’m not really comparing anything but I’ve seen two references to brokered rates trending up compared to regular rates.
Loses control? No doubt the trillions they are printing and handing out won't hurt....I suspect when the FED loses control of inflation, or it starts getting reported without biases (not likely), then rates may rise for CD's. However, banks really like the current CD rates and will be hesitant in changing to any higher rate until forced to from competition.
That's why many European banks now "offer" negative interest rates. The flip side is that real estate mortgages are cheaper than dirt cheap. My brother over there just finalized a 10 year fixed rate mortgage for his home for 0.22% and zero points - it's just unbelievable.So what happens if your house (with mattress) burns down?
That's why many European banks now "offer" negative interest rates. The flip side is that real estate mortgages are cheaper than dirt cheap. My brother over there just finalized a 10 year fixed rate mortgage for his home for 0.22% and zero points - it's just unbelievable.
Meanwhile 2021 inflation is projected as 1.7% by the Feds. Yet when you go shopping, you wish it was true.
So what happens if your house (with mattress) burns down?
For those of us who get a COLA at the end of the year, it's beginning to look like it might actually be significant.