Bank % Rate Changes - Which Day?

[Drake3287]

Never really thought about this but because Banks & SL's in our area advertise their CD rates in the paper once a week, is there traditionally one day a week that a bank/SL will change CD rates?

For example, if a rate is going to change does it happen on let's say a Friday or do they all simply change rates based on market conditions any day of the week? Obviously there's a lang in time from when the feds raise rates until we see the changes locally.

With most of us having a grace period to renew CD's, I was just curious if one day out of the week had better odds of catching that next increase (or decrease).

[OldShooter]

Quote:

Originally Posted by Drake3287 ... they all simply change rates based on market conditions any day of the week ,,.

Yes.They raise rates when they need deposits and hold or reduce when they don't. Nothing mysterious (or exploitable) about it.

[jazz4cash]

It seems like credit unions used the 1st of the month but lately there is no pattern. I believe depisitaccounts.com has a history of rate changes or you could check the comments for a particular bank.