Today, the banks got a treat.? Whether or not it helps out Joe Homeowner remains to be seen.? Fed Funds now is at 4.50%.?

If Prime is adjusted down at least rates indexed to Prime should see a little relief.

We may also finally see a normalized yield curve, although it took lower leads to get us there.

I found this fun video on YouTube while doing some research.? I know my credit union friends will enjoy it, hopefully my bank friends will get a laugh, as well.

Credit Union vs. Bank video.

Updated our running commentary.

Highest CD Rates

cd :O)

Treasury yields are taken a significant dip today.? Talking heads aren’t really sure why.

On another note, Dwight has posted a new Long Term Commentary.? And his co-hort, Jeff Smith had a nice analysis for today.

Check ‘em out.

Longer-Term Commentary

October 19, 2007 Commentary

Good ‘ol Hillary.? Showing her true blue colors again.? She wants to take your estate taxes and dole them out to encourage others to save.

It sounds nice on the surface.? If I open this new type of account, the Gov’t will match it up to $500 or $1,000.? Boy-o-Boy, free money.? But it isn’t fee.? The revenue for this plan comes from estate taxes.? To be fair, they aren’t planning on raising the current estate tax, just diverting part of it to this new program.

But here is the problem.? The Gov’t shouldn’t be in the business of taking?my?inheritance?and giving it to others.? The Gov’t needs to stop using Americans as their revenue stream.? Encourage your representative to stop taxing us to death.? And find some other source of revenue.

Here is a link to the PR piece put out by Hillary.? What do you think?

The Fed Cut rates on Sept 18 by 50 Basis Points (0.50%).? Since then rates fell much more than I expected.? Now there is talk of another cut at the end of October.

On average so far 1Y rates have fallen 30 Basis Points and the longer term has fallen even further.? Another cut would push rates into the 4.50% range.

If you are looking to protect your rates, we have a 10-year CD at 5.80% APR / 5.97% APY.? No Fees.

If you aren’t so sure about going that long we have a 3-year to 7-year that will net you 5.75% APR / 5.92% APY after our fees.

Call us for details at 800-234-4605 or visit our Rates page.

cd :O)