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Old 05-25-2022, 02:21 PM   #501
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I feel safer getting a 5 year at 2.75 instead of a 2 year at the same rate. Seems like the loaning institutions think the rates are going to go back down or flatten out after 2 years. I could be wrong, and have been before !
Agree
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Old 05-26-2022, 03:26 PM   #502
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From Ally:

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Your Online Savings Account rate is increasing from 0.60% to 0.75% Annual Percentage Yield (APY) on all balance tiers. Your new APY goes into effect on 05/27/2022, and will appear in your account on 05/28/2022.
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Old 05-26-2022, 03:32 PM   #503
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Another big jump. I guess a race has already started!

But I already pulled some older no penalty CDs to buy some 3 month and 6 month CDs instead.

Will continue to do so until the savings accounts catch up, which they eventually will, but it might take a year or longer.
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Old 05-26-2022, 04:39 PM   #504
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Iím taking credit for the Ally rate increase. I closed my account there two days ago.
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Old 05-27-2022, 05:12 AM   #505
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This morning I noticed DiscoverBank has gone to 0.70%.

T-Mobile Money is still at 1.00%
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Old 05-27-2022, 05:30 AM   #506
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Discover Bank is also 0.7% now.
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Old 05-27-2022, 06:08 AM   #507
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Iím taking credit for the Ally rate increase. I closed my account there two days ago.
Me too. Moved Ally to Navy.... Navy MM still at .45%
But wanted to consolidate to 4 institutions from 7...So....
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Old 05-27-2022, 06:39 AM   #508
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Another big jump. I guess a race has already started!

But I already pulled some older no penalty CDs to buy some 3 month and 6 month CDs instead.

Will continue to do so until the savings accounts catch up, which they eventually will, but it might take a year or longer.
I noticed the Ally no penalty CD is now .85%
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Old 05-27-2022, 08:04 AM   #509
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Me too. Moved Ally to Navy.... Navy MM still at .45%
But wanted to consolidate to 4 institutions from 7...So....
So I am not the only one willing to sacrifice income for the sake of simplicity! I'm sticking with PenFed mainly because I don't want to open another account anywhere, just for an additional half percent.
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Old 05-27-2022, 08:08 AM   #510
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Synchrony has a special 16month @2%. I already have a CD with them so I am moving a CD from NFCU that came due over there. Navy rates are significantly less.
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Old 05-27-2022, 08:22 AM   #511
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CFG Bank at 1.02 pct on MM.

Even beating T-Mobile's 1.00 pct these days.
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Old 05-27-2022, 08:23 AM   #512
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So I am not the only one willing to sacrifice income for the sake of simplicity! I'm sticking with PenFed mainly because I don't want to open another account anywhere, just for an additional half percent.
Pen Fed is one of the 4.... Their rates are pretty darn good. Compared to most. .7% beats .45% at Navy.
But, IRA's are such a pain to move. Just went through it 3x.
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Old 05-27-2022, 08:36 AM   #513
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Pen Fed is one of the 4.... Their rates are pretty darn good. Compared to most. .7% beats .45%
But, IRA's are such a pain to move. Just went through it 3x.
Yeah, I have about 15 old Roth and Traditional IRA's totalling $60K, at one of my old credit unions, and I leave them there at not so great rates due to the hassle factor of moving them. I already let all my regular CDs there just mature into my checking account there, then moved them to higher yielding places, like Penfed.
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Old 05-27-2022, 09:19 AM   #514
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I just canceled all my Ally No Penalty CDs at .55% and reopened them at .70%. Takes a second.
Well, Ally just raised the no penalty CD rates again to .85%. So I just went online and canceled and reopened the CDs that I opened 2 weeks ago. It does not take long so definitely worth it to me.
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Old 05-27-2022, 10:31 AM   #515
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I opened an Ally no penalty CD on 5/23 at 0.70% so I'm within the 10 day window and should get the new rate...we'll see.
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Old 05-27-2022, 11:33 AM   #516
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I opened an Ally no penalty CD on 5/23 at 0.70% so I'm within the 10 day window and should get the new rate...we'll see.
Hmmm - same here.

But since 3 month T-bills are over 1% and 6 month over 1.5%, Iím not that enthused yet.
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Old 05-27-2022, 12:30 PM   #517
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Hmmm - same here.

But since 3 month T-bills are over 1% and 6 month over 1.5%, Iím not that enthused yet.
I've bought several in the last week. Still have no idea what happens from here.
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Old 05-27-2022, 02:17 PM   #518
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What happens from here: When it’s time to rollover those t-bills, you get to see what is else available.
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Old 05-27-2022, 03:33 PM   #519
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What happens from here: When itís time to rollover those t-bills, you get to see what is else available.
That's about all I can do..I could not have timed the sale of my bond fund any worse..On 5/2/22 I was convinced the Fed would continue to make drastic rate increases..I decided to cut my loss and sold my bond fund..Share price has been going up ever since.
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Old 05-27-2022, 03:37 PM   #520
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There may be further dips - you never know.

I’ve held onto my intermediate bond funds, they are near the target allocation and my stocks have come down a lot more. I’m mainly moving around cash now, and using some cash and short-term bond funds to buy stocks funds (rebalancing).
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