Best CD, MM Rates & Bank Special Deals Thread 2022 - Please post updates here

[NomDeER]

If you buy a new CD in your broker account, and say the issue date is 11/29 or something like that, but the trade goes through today? What happens to your money in the 14 days before it is issued?

I don't know what the practice is at other brokerages, but Vanguard leaves the money in your settlement account until the day before the issue date. So, you presumably would be earning interest in the settlement account during that 14-day period.

BTW, for those looking to purchase CDs at Vanguard, Vanguard currently has 3-year non-callable CDs at 4.9% from City National Bank Los Angeles. The CUSIP is 178180GS8. These may not be available for very long. Since last Thursday, they haven't had many CDs available with a duration beyond 18 months.

 

[disneysteve]

BTW, for those looking to purchase CDs at Vanguard, Vanguard currently has 3-year non-callable CDs at 4.9% from City National Bank Los Angeles. The CUSIP is 178180GS8. These may not be available for very long.

Thank you for this. I just snagged 25K worth of that.

 

[MichealKnight]

Risks with brokered CD's?

I didn't know such a thing existed till I read about it here.

Rates are higher.

If the CD gets called - that means you get your money back -- but the nice rate you planned on getting is now not real.

Googling a bit - I saw that in some cases not all of them are FDIC.

OTHER than being called - what are risks with a brokered. CD? Thanks

 

[Car-Guy]

If the CD gets called - that means you get your money back -- but the nice rate you planned on getting is now not real.

Googling a bit - I saw that in some cases not all of them are FDIC.

Buy non-callables. I always check, but to be honest, I can't recall seeing any callable CD's at Schwab... But they may have some.

Not sure where you can buy brokered CD's that are not FDIC insured, if you stay within the FDIC guidelines. Maybe they exist "somewhere", like at non FDIC institutions. Here's what Schwab says on their CD Web page about their brokered CD's. (Blue text below)

• FDIC-insured up to $250,000 per depositor per bank9
• Extended FDIC coverage (10) by purchasing CDs from multiple banks

 

[audreyh1]

I didn't know such a thing existed till I read about it here.

Rates are higher.

If the CD gets called - that means you get your money back -- but the nice rate you planned on getting is now not real.

Googling a bit - I saw that in some cases not all of them are FDIC.

OTHER than being called - what are risks with a brokered. CD? Thanks

No compounding interest and no early withdrawal option - have to get your broker to sell it on the secondary market.

 

[24601NoMore]

4-5 year CDs with high 4/low 5% rates seem to be drying up. 5 year Treasury rate's been dropping.

Odd, with Fed expected to raise 50-75 bps again in Dec.

Anyone have any thoughts on why? Have some recently matured $$ looking for a home and would prefer at least 4 and preferably 5 years. Hesitant to add any more MYGAs, though those are still 5+% for 5 year maturities.

 

[Car-Guy]

Maybe because of "moderating" inflation (ha). I noticed Schwab's 3 to 5 yr CD's dried up late last week but a few new issues appeared today. Not sure what's going on but I suspect most banks are waiting to see what the Fed does next. Either that or maybe a lot of folks have already bought a lot of Cd's in the past few months and they have all the money they need for now... (Maybe, but who really knows)

 

[audreyh1]

Maybe because of "moderating" inflation (ha). I noticed Schwab's 3 to 5 yr CD's dried up late last week but a few new issues appeared today. Not sure what's going on but I suspect most banks are waiting to see what the Fed does next. Either that or maybe a lot of folks have already bought a lot of Cd's in the past few months and they have all the money they need for now... (Maybe, but who really knows)

I also think folks waiting to pull the trigger on longer CDs snapped them up last week, and it simply takes a little while for more supply to appear.

 

[Done]

BTW, for those looking to purchase CDs at Vanguard, Vanguard currently has 3-year non-callable CDs at 4.9% from City National Bank Los Angeles. The CUSIP is 178180GS8

Thanks, Fidelity now has these 3-year non-callable CDs at 4.9%:
City National Bank (CUSIP DSMBE0548)
American Express Natl Bank (CUSIP DSMBG4782).

New 2-year non-callable CDs are at 4.85%.

 

[Montecfo]

Maybe because of "moderating" inflation (ha). I noticed Schwab's 3 to 5 yr CD's dried up late last week but a few new issues appeared today. Not sure what's going on but I suspect most banks are waiting to see what the Fed does next. Either that or maybe a lot of folks have already bought a lot of Cd's in the past few months and they have all the money they need for now... (Maybe, but who really knows)

Because the rate of inflation is declining, and the market anticipates it to continue to decline, pressuring rates on the long end.

This is why the next rate rises may not drive long yields up much. In fact they can drive long rates down as the markets estimate the Fed is serious about tackling inflation and will stay the course.

 

[Drake3287]

Because the rate of inflation is declining, and the market anticipates it to continue to decline, pressuring rates on the long end.

This is why the next rate rises may not drive long yields up much. In fact they can drive long rates down as the markets estimate the Fed is serious about tackling inflation and will stay the course.

It's a long, slow road to ever reaching the 2% inflation level which the Feds would like to be at. I do agree the next rates hike will probably be 50 basis points for awhile instead of the 75 we've all gotten use too. Wish I had a better crystal ball!

 

[audreyh1]

Rates going up weekly! From Amex Bank:

We want to let you know that as of November 17, 2022 the Annual Percentage Yield (APY) on your High Yield Savings Account has increased to 3.00%. This variable rate is subject to change over time based on economic and competitive factors. You should know that this rate is significantly more than the national average, so you'll continue to get more out of your savings with your American Express Savings High Yield Savings Account.

 

[Earl E Retyre]

Rates going up weekly! From Amex Bank:

Amex bank 4.9% noncallable CD at 3 years is on Vanguard. Just bought some.

 

[Gotadimple]

American Express email this morning. High Yield savings 11/17 is now 3.0% up from 2.75% on 11/9. CD rates increased on 12/24/60 month CDs to 4.00/4.10/4.25%

 

[Montecfo]

CFG bank now up to 3.78%.

 

[lordjust]

CFG bank now up to 3.78%.

Wow! So much for my dollar savings 3.5% account. Amazing what rates these banks can issue.

 

[John Galt III]

Recently threw some cabbage into VMFXX at Vanguard. Now waiting for their 7 day hold to roll off, so I can snap me up some of them 4.9 % three year noncallable CDs, if they are still there.

 

[Car-Guy]

The best CD's Schwab has "at this point" is 3yr non callable for 3.9%... Nothing longer than 3 years is currently valuable.

This weekend I was playing with my 401k account and noticed the fixed income funds are on track for an 8+% annualized return this year. Sure wish I could add money to my 401k...

 

[John Galt III]

This weekend I was playing with my 401k account and noticed the fixed income funds are on track for an 8+% annualized return this year. Sure wish I could add money to my 401k...

Wow! 8 % is pretty good. All my fixed income stuff in my 401K's is in 3 stable value funds, and they seem to be stuck down at 1.8 percent, and 2.3 percent. Will check them to see if they have bounced up a bit in the last few months. Hopefully so!

 

[NomDeER]

FYI, Vanguard currently has a non-callable 4-year 5% CD from Toyota Financial Sgs Bk. I doubt it will be there long.

 

[jazz4cash]

Recently threw some cabbage into VMFXX at Vanguard. Now waiting for their 7 day hold to roll off, so I can snap me up some of them 4.9 % three year noncallable CDs, if they are still there.

Wait. They hold your funds for 7 days? Seems extraordinary. Any way around it? I think Fidelity lets me trade before funds hit my account if I pull from a linked account. I can’t exactly recall the details.

 

[John Galt III]

FYI, Vanguard currently has a non-callable 4-year 5% CD from Toyota Financial Sgs Bk. I doubt it will be there long.

Thanks! Hope for the future! Just a couple more days!

 

[John Galt III]

Wait. They hold your funds for 7 days? Seems extraordinary. Any way around it? I think Fidelity lets me trade before funds hit my account if I pull from a linked account. I can’t exactly recall the details.

Yep. I think you can buy Vanguard products right away (like VWINX) but to buy non-Vanguard products (like the brokered CDs I want) you have to wait 7 days. I tried to buy a brokered CD and got the '7 day wait' error message.

 

[NomDeER]

Thanks! Hope for the future! Just a couple more days!

I went back to buy some for a different account and they already were sold out. It seems like once or twice a week Vanguard has some good deals on CDs and they get wiped out quickly. So, just be vigilant and you hopefully will find a good deal.

 

[lordjust]

FYI, Vanguard currently has a non-callable 4-year 5% CD from Toyota Financial Sgs Bk. I doubt it will be there long.

89235MPL9
Toyota Financial Sgs Bk Conditional Puts - Death Of Holder - Restricted States: OH,TX, FDIC#57542
12/02/2024
4.900

if its not this one i think its gone